Quote:
Originally Posted by Ant
Still though, this question wasn't about whether you guys think it's a good idea for me to get the car or not.
Anyway, say the loan I need is for 20K. Do you think if my Grandma took out a loan for let's say, 17K and my Mom did one for 3K, they could combine the loans and put both names on the title? Then in a year or so, when I have better credit, maybe I can take out a loan to put my own name on the car?
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I'm not trying to be a smart ass but expain to me why you can't get the loan with a co-signer. This allows you to earn a credit history and the loan is still backed by grandma. If grandma has good credit the bank should be okay with that. If not go to a differant bank or a credit union. To try to answer your question. If the bank will give gandma and mom a loan without using the car as colladeral it doesn't matter who's name the cars in. Some guys on here claim they got cars with mon or dad signing but they didn't say if they were on the loans or not. All I'm only telling you is, I live in Pa and my wife works for a bank and she said they wouldn't write a car loan for someone when there name isn't on it. Thats why I told you, you need to check with your bank to see.