Hello Everyone, First post here! This is the situation, my FICO score is 590 due to not being on top of my credit for a long time. There are no derogs on my report through EQ, and I have only two accounts present- a capitol one secured card and a new student loan. I am waiting for 4 rehabilitated student loans to show on reports again. I am a ful time student and also work full time with a gross monthly income of 1800, with very small bills (approx 600 month)
I am going to attempt to purchase a vehicle from my grandmother who live approx 1200 miles away. The vehicle is a 2004 audi a4 quattro that bluebooks at about 12500, she is willing to sell it too me for $8000. I am capable of putting $2000 down. My mother is likely willing to cosign on this loan for me, her score is 688, not higher mainly because she does not utilize her cards or credit in general much. Do you think this is a reasonable situation to seek financing from a local cu or perhaps a bank. We both bank with chase. Does this sound like a reasonalbe situation, there is positive equity already present in the car, i have enough income present for payments, a co-signer with decent credit present, and the 255 down should help. Also if anyone know what the process may be for setting up financing for a vehicle long distance would work out, it would be appreciated
