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Auto Loan app question

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Anonymous
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Auto Loan app question

Hello,

 

I'm going to apply for an auto loan through my credit union. I want to give myself the best possible chance of getting approved so I have a question.

 

I want to be as honest as I can on the app, but when they ask about rent I can honestly go either way. I recently moved back home with my mother after my father passed away a few years ago. I usually pay my mother something to help out each month and sometimes I just pay for groceries and nothing specified for "rent". Would it look good to the loan company if I just added up all expenses I give my mother each month and enter it as rent or shall I put "no rent, live at home"?

 

Thank you

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0REDSOX7
Valued Contributor

Re: Auto Loan app question

I would put it as rent - this way they see you have a monthly obligation, even if it is only $250-$350 a month.
BK Discharge 2/11/14

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