Overhaulin'

want to take out a loan for a car can you help?

I want to buy a used car just to get around for school and work and stuff. decent maybe 2001. I need some advice on where I can take out a loan. I found this site for capital one loans but I realized it was only for franchised car dealerships and I might want to buy from a private dealer like on craigs list. I tried to apply for a loan at my local credit union but I wasnt approved because my monthly income wasnt enough. I had great credit too she said. Do you know of any sites online where I can easily fill out an application for a loan? And how does a co signer work cuz I might want to have my mom on there so I can have a better chance of getting approved.

Public Comments

1. If you weren't approved at the credit union, which usually is very liberal, you probably won't be approved anywhere. Yes, a co-signer with good credit can help you. How does it work? They sign saying if you don't pay, they will.
2. Most banks require at least $1800/month income, so if you are below that than a cosigner would be best, and chances are your credit union would offer the best rates and terms for you. If you do want to keep trying on your own, many of my customers have had good luck with www.roadloans.com just know they are affiliated with Wells Fargo. You could also apply through eloans, too. With either of these choices if you are approved you will get a letter of credit that details the limits of the car you can buy (oldest year, max miles, max loan to value) You can use this when buying a FSBO car, but it can get somewhat complicated. Please email me through yahoo to discuss your needs further if you would like. Michelle
3. A co-signer can help to provide the income necessary to get approved, however she might need to have good credit depending on how much "high credit" you have. If your Mom is willing to co-sign, I would take her back to your credit union before you try a website. Good luck and I hope this helps.