04-25-2013 07:09 PM
04-25-2013 08:07 PM
If you don't need a new car...why waste the money to buy it? Seems to me you have a reliable car. If you can't afford the payments on your own without using your boyfriend's income, you can't afford it. FYI, my reply may seem like I'm being rude but I'm really not!
04-25-2013 08:19 PM - edited 04-25-2013 08:20 PM
Does your boy friend want to buy you a car?
If his credit score is high and his obligations are low, he may be able to get the loan.
Although, it does not seem like you have any need for the vehicle.
04-25-2013 08:48 PM
Why are people making the assumption that I don't need a new car & that my current car is reliable, like they know me lol.
Maybe b/c you mentioned you have a 2008 Mazda. Hardly ancient history. Just saying lol.
04-25-2013 09:09 PM
04-25-2013 09:19 PM
Warranty on a mazda is a lot less than a new caddy. At $1,150 per month, you may need to find ways to save money. Your car payment for a 36 month loan would be more than that.
I was thinking the same thing...not even including car insurance. I bet the premium would be up there. Caddy is a pretty expensive car to insure.
04-25-2013 09:28 PM
04-25-2013 09:59 PM - edited 04-25-2013 10:01 PM
No one can tell you what to do, but since you came on here asking for advice you should take it.
Can you AND your boyfriend get approved? Probably, depending on his and your's credit file. Should you? Probably not...you don't make very much annually and the payments on the vehicle alone will take over half of your income. Plus, you mentioned you have a 2008 Mazda that is worth nearly $10k so we can take that info and determine that it would be a good running vehicle or it wouldn't be worth that much. Also, on a personal note....I suggest not financing a vehicle with someone you're only dating. Not to mention that you still owe over $7k on your current vehicle and unless you get a good trade-in you could wind up with a $40k+ Caddi.
05-01-2013 01:38 AM
I agree with what everybody else is saying...
I know what you mean though. Those Cadi's are nice cars! BUT, you don't want to get into an obligation that you're gonna regret. I'm in the process of getting a car. I make almost 40k annually, but even for me, I'm still thinking of getting something 10k or less. the MOST that i'd even go to is probably 15k AT THE MOST. You're not going to be able to use your bf's income unless he's also going to be on the car loan. Even when it comes to marriage, you can't use his income...again, unless he's going to be on the loan.
I know...I work for a bank, and I tried to do the very same thing with my clients applying for a personal loan. And she got denied because its not HER income. Its her husbands. (thats what the underwriter had told me when i spoke to them).
I don't know if you need a new car or not....if you DO, then i'd just go for something a little cheaper. If you DON'T, then i'd just stick with what you got. Sometimes having that luxury of the car isn't worth the debt and the trouble that it would put you through.
Either way you go, Good luck!
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