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[Discussion] How likely will I be able to get my name on a loan with these details and having a co-signer? Arizona.

August 15, 2020 at 11:30PM

I hope I'm asking my question in the right place, I didn't see any other subs that looked better than this one.

I will preface by saying I have not contacted my bank about this because I use an online bank and I highly doubt they offer loans.

I'm trying to buy a car from a dealership. I prefer this over other options because I want warranties and I don't want to buy a beater that might break down a lot.

I filed a chap. 7 bankruptcy last year, this was discharged in February '20. Part of my bankruptcy included 2 banks, so I guess I'm on whatever system they use to check people's history? Check something. My credit is around 678.

I pay the majority of my bills with financial aid because I am a student. I also have a part time job which brings me $900 a month. I was told that financial aid is not counted as income. So I have the money but not in a way banks recognize.

I have an excellent co-signer (flawless credit, lots of money) But they want the loan to have my name on it so I can register the car myself and put it on my own insurance policy.

How likely will I be able to get my name on this loan with these details?

Edit: I forgot to mention that I am planning to put 3k down, hopefully to entice lenders and also to keep my monthly payments as low as I can while I'm in school.

Thank you.

submitted by /u/Lalunaseabre
[link] [comments] via Savings, Checkings, CDs, oh my!

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