Quote:
Originally Posted by vrizzo53
Thanks for all the input I read every single post and took everyone one in our account, like I said I'm not longer insuring him. I will still co sign the loan, he can't sign for it himself because his credit isn't established now a days you need a cosigner to even get a foot in the door... I'm not worried about him skipping... he has money that he inherits I'm not worried one bit about him skipping on the payments...he will have it paid off in a few months... he just got a SC on his 300srt Chrysler so that's why he needs a loan for this. He should have it paid off with in 5 months. Thank you all again God bless. Again I appreciate all the information and input from each and everyone of you
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1) if he's working a job his credit WILL improve
2) there are ways to inflate your credit rating in the short term (google can help with that)
3) if he can't get it now, try again in 6 months
anecdote of myself -> i had a 5k CC and was looking to get a 5k LOC as well which got immediately rejected (i was working for about 8 months at that point)
1 year after the rejection i was getting pre-approved credit increases every other month and in total the amount of credit available was way more than 10k. a LOT more actually.
he should wait and save a bit before he does anything imho. whatever your uhh his money is his call.
Quote:
Originally Posted by Chuck33079
Given that he's young, buying a sport bike and his credit is bad enough to not qualify fo a $6k loan, I'm guessing his insurance will be higher. Eye-poppingly higher.
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oh probably has a bad driving record too which wouldn't help the cause