jmillz wrote:Thanks for the advice cassembler.
I already received the official offer from my new job, and I did get a signing bonus for relocation and other expenses, I know I will be able to afford the loan on my new salary, the problem regarding the need for a cosigner is because when I fill out a loan application they considered my current salary, which is only for a part time job I have during college, which only gives me a yearly salary of like 25k, which on paper obviously looks pretty bad and I won't be able to get approved for a 20-24k auto loan on that yearly salary. I just need to buy the car before I actually start at my new job, which is why I need a cosigner.
Most captive lenders I have seen offer a recent graduate program. Talk to the dealership you plan to buy from about this. Usually they will ignore the fact that you have no auto loan history and will usually also accept offer letters, instead of paystubs. These programs often qualify for the best promotional rates as well. Definitely call a dealership or two to ask about their graduate loan programs.
Starting Score: FICO: 587 EX, 594 EQ, 632 TU, 2/15/12; USAA FAKO: 525 EX, 541 EQ, 525 TU, 2/15/12