i recentlly went to the dealership to bring a car. and i took my brother within law as a cosingner. his credit mark is 759. and on my report showed some collections. and i dont have a rack up, and they said that they will finance me w. him on the loan. but the interest rate would be surrounded by the 14"s or 16's , and i said no. so if i apply thru my job's credit union you regard they will approve me for a loan even if i have doomed to failure or no credit?.i thought taking a co-signer would bring down the interest rate on my loan..but i guess not...thanx in finance.
Answers: I'd say it's particularly worth a shot since it's a credit union through your employment. They may have the leeway where your loan payments could be automatically deduct from your paycheck. If you have collections surrounded by your past, you'll probably be looking at a complex rate to start. But it doesn't have to stay lofty. Ask them if you can qualify for a lower interest rate if you make payments prompt for 6 months or a year. The credit union motto is "People Helping People" - so you may hold luck if you just gossip to them.
Another way you may be capable of help yourself is to show that you're paying your bills in good time now. Check out this article nearly someone with no credit who be able to get hold of a car loan using a credit bureau call PRBC. You could ask the credit union if this would abet you get a lower interest rate.
http://marketplace.publicradio.org/displ...
Best of luck!
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Answers: I'd say it's particularly worth a shot since it's a credit union through your employment. They may have the leeway where your loan payments could be automatically deduct from your paycheck. If you have collections surrounded by your past, you'll probably be looking at a complex rate to start. But it doesn't have to stay lofty. Ask them if you can qualify for a lower interest rate if you make payments prompt for 6 months or a year. The credit union motto is "People Helping People" - so you may hold luck if you just gossip to them.
Another way you may be capable of help yourself is to show that you're paying your bills in good time now. Check out this article nearly someone with no credit who be able to get hold of a car loan using a credit bureau call PRBC. You could ask the credit union if this would abet you get a lower interest rate.
http://marketplace.publicradio.org/displ...
Best of luck!
Resolved Questions: