car loan by credit union ?

[allaboutcredit]

I came to USA about 18 months back. I have two credit cards - one by Cap1 and other joint with my wife by Amex. There's one more credit line by Paypal (seems its CIT bank) which also reports to credit agencies.  The credit score by truecredit is b/w 660-690 for the three agencies. I am not working and in a desperate need for a car. I do earn a few hundred dollars monthly for my expense. My wife has got a new job a week back and she has an auto loan and a house mortgage loan. I plan to start looking for a job but going places in a bus is such a big problem and waste of time.

I understand that I can look for a loan from a dealer, bank or credit union. My wife is already a member of tri boro union. I can also join the same credit union. She  is  very apprehensive about being the co-borrower (co-sponsor) as she feels that she already has two loans which would lead to denial of loan and lower her credit score. Do you think it's best for me to go to CU and have my wife as a co-borrower ? Do I have the best chance of getting loan from there ?

I plan to buy an used car for about $ 10K. Also ready to put my own $ 2 K.

[ngerasimatos]

Honestly, without stable income you will have a hard time getting an approval. Also, with your wife having so much credit tied up, I dont think if she co-signed that would help either. I would use that 2500 and find something used that is a good deal. Perhaps a used Acura Integra or Honda Civic. Then you dont have to worry about incurring debts as well. 

[allaboutcredit]

The other option is to ask my sister to be the co-signer. She lives in another state. She told me only the co-signer should be from the same state ?

[ngerasimatos]

It doesn't matter her location, they can FedEx the documents to her to sign. When I was young and in college, I had my dad co-sign for me twice on auto loans and he lived in a different state and sometimes out of the country as well. There was no issues. 

[Txmomof3]

Having a co-signer in another state would not work for me.  I had my sister in-law ready and willing to be a co-signer but no banks would accept it because she was in another state.

[ngerasimatos]

Thats very abnormal, most of the time they could care less.