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I currently am the President of a credit union. Our policy, along with many others, is if we see an 18 yr old purchasing a 20K+ car, we would require a co-signor. Even if you have a couple established credit cards, your credit report would lack a long-term, big ticket item. When I got my first job making 28K at 21, I purchased a mustang gt and had to get my parents to co-sign. There is nothing wrong with having them co-sign. You are still building your credit. Also, think twice about putting down all your money. Opt for a 60 month term and keep that as a safety net. If you can afford a larger payment, put extra down each month. If any of the younger members have questions about lending, do not hesitate to ask me.
PS For what its worth, personally I wish I didnt buy the Mustang. The cost, plus insurance at 21 was a killer. That money could have helped much more when it came to purchasing our house.
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