370 is freaking out.

kenchan · 06-01-2010, 11:12 AM

Quote:

Originally Posted by Vegitto-kun

Its pretty much impossible for somebody around my age to borrow the 44.000 euro (53.521 dollars) for a car.

So I borrowed half the money from the bank and half from my father.

Is that a problem?

you and your car are both owned by your dad... that's why the Z is not responding to you. hahaha

wat are you going to do when it's time to buy a house? borrow 1/100 from bank and 99/100 from dad? btw, are you japanese by any chance? wtf are parents doing to their kids??

USAFstevo · 06-01-2010, 11:23 PM

Quote:

Originally Posted by kenchan

you and your car are both owned by your dad... that's why the Z is not responding to you. hahaha

wat are you going to do when it's time to buy a house? borrow 1/100 from bank and 99/100 from dad? btw, are you japanese by any chance? wtf are parents doing to their kids??

Just a side note but wouldnt him borrowing half from his dad lower his debt to income ratio making it easier to buy a house, since only half was financed instead of the full amount. just saying. If I could borrow money with a 0% interest rate I would think you would be stupid to not take the offer saving a great deal of money over time regardless of who its from. to the op: It isnt impossible for someone your age to get approved for the loan, im 21 and I just signed the papers today..

shoopajae10 · 06-02-2010, 01:01 AM

Quote:

Originally Posted by USAFstevo

Just a side note but wouldnt him borrowing half from his dad lower his debt to income ratio making it easier to buy a house, since only half was financed instead of the full amount. just saying. If I could borrow money with a 0% interest rate I would think you would be stupid to not take the offer saving a great deal of money over time regardless of who its from. to the op: It isnt impossible for someone your age to get approved for the loan, im 21 and I just signed the papers today..

Did u have a co signer? How much was ur loan amount? Which financial institution? Ur rate? Financed through dealer? Lol sorry for all these questions... Just trying to make clear how u were able to get a loan urself at age 21. Especially with all these strict requirement guide lines most lenders follow these days. But congrats on ur purchase!

USAFstevo · 06-03-2010, 08:42 AM

Quote:

Originally Posted by shoopajae10

Did u have a co signer? How much was ur loan amount? Which financial institution? Ur rate? Financed through dealer? Lol sorry for all these questions... Just trying to make clear how u were able to get a loan urself at age 21. Especially with all these strict requirement guide lines most lenders follow these days. But congrats on ur purchase!

Nope no cosigner, I financed about 27 after down payment, and this was also with a BMW M3 being financed still. I've yet to be turned down by a bank yet my interest rate was 5.9%. Basically I've been smart with my money built my credit score into the mid 700's Im not rich I'm in the military. Im carefull with how I work my budget I've been living on my own and paying all the bills since I graduated high school. And I'm still far from living paycheck to paycheck I'm still able to invest a few hundred a month.

Vegitto-kun · 06-02-2010, 07:32 AM

Quote:

Originally Posted by USAFstevo

Just a side note but wouldnt him borrowing half from his dad lower his debt to income ratio making it easier to buy a house, since only half was financed instead of the full amount. just saying. If I could borrow money with a 0% interest rate I would think you would be stupid to not take the offer saving a great deal of money over time regardless of who its from. to the op: It isnt impossible for someone your age to get approved for the loan, im 21 and I just signed the papers today..

Remember im in belgium things are probably different here.

but its true its easier to loan for a house since I cut half of my debt to the bank

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