I am looking to purchase a used Ford Escape or Mercury Mariner for $17,000 to $18,000. I am a nanny/personal assistant for two lawyers and make anywhere from $1500 to $2000 a month depending on the hours I work each week.
I found an awesome car yesterday and the dealer said that in order to finance through them I would have to have my parent cosign since I have no established credit.
I did some research and I found a lot of info. on a "No Credit Car Loan" Does anyone know anything about these and what is required to get one?
Thanks so much for your help!
Any info anyone has on buying a car for a new buyer would be greatly appreciated!
You will still need a cosigner.
Not only because you have no or limited credit history, but I am guessing you also do not have 2 years of income tax returns to show the lender.
Didn’t you ask this before a week ago or something? You need to be able to document your income. If your nanny jobs are paid cash and you don’t claim them, you cannot use that as income, because you cannot prove it.
July 29th, 2010 at 12:53 am
You will still need a cosigner.
Not only because you have no or limited credit history, but I am guessing you also do not have 2 years of income tax returns to show the lender.
Didn’t you ask this before a week ago or something? You need to be able to document your income. If your nanny jobs are paid cash and you don’t claim them, you cannot use that as income, because you cannot prove it.
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