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Do I *need a co-signer

kalabungadude
New Member

Do I *need a co-signer

~720 TransUnion with 690-700 auto enhanced scores. Have over 2.5 years of income statements from my part time job, and my job offer letter for my summer internship which is $40 an hour full time + $2000 monthly stipend for living costs. Oldest account is 1.9 years (my credit card) and Chase nor Capital one would prequalify me due to "too many recent inquiries" am I screwed ?  Looking at Subaru’s which is why I mentioned TransUnion I know they pull that here in Nebraska. Will have 5-8k to put down. 

Message 1 of 4
3 REPLIES 3
kalabungadude
New Member

Re: Do I *need a co-signer

Applied for financing on Subaru's site and recieved a "conditionally approved requst to finance" that I can take to the dealer. Wonder how much weight that is, i dont see any credit checks on my reports...so idk what i "applied for"  but cool I guess. 

Message 2 of 4
dunn2500
Frequent Contributor

Re: Do I *need a co-signer

autos are easier than credit cards......doubt you would need a co signer but interest rate is key to auto loans

 

in 2019 i had no credit score whatsoever and bought a 40k truck with no cosigner......you can apply with soft pull thru cap one just to see where your at % wise.....after that maybe a credit union or ?, your payments and income come into play......i dont think they care what you your going to make its what youve already made as proof of income......others will chime in

Message 3 of 4
kalabungadude
New Member

Re: Do I *need a co-signer

Good to know, sounds like I should be in a decent spot then between the down payment I will have, proof of income both past and future. I do wonder what rate this will come out at I wish they told you on pre approval, but hey here's to hoping they say hey you get promotional rate of 0% haha. 

Message 4 of 4
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