Ford First time buyer program

[Anonymous]

Hey I’m looking to get a new 2017 or 2018 Mustang. As far as my Fico score goes it’s currently average sitting at 635 but expect t to go up since I just paid off a credit card balance. One thing I’ve been told since my credit history is young it’s limited. But both jobs I work puts my gross monthly income at 2500 a month. I’m a college student so I have no bills being that I’m staying at home just paying the light bill which is about 200 a month. I currently have 3 student loans totaling about 11k but I don’t have to make any payments on those until six months after I graduate after Fall 2019. From you guys experience I just wanna know how likely am I to be approved by my lonely but if push comes to shove I should be able to get a co-signer but if so that I need a co-signer is there anyway after a certain amount of months can I just become the only person listed on the auto loan by proving that I can make the payments

[Anonymous]

Well mustang runs a pretty wide price range, so need to know how much you intend to finance and how much if any you intend to put down

[Anonymous]

1500 to 2500

[Anonymous]

And 25k or 26k

[Anonymous]

I dont doubt you can get financing, i would definitely cast a wide net to make sure you get the best rate. Start with cap 1 since you can get preapprooved with out a hard pull

[Anonymous]

Thanks for the answer and getting back to me In a timely manner

[dabrian]

Your co-signer will be on the hook for the life of the loan unless you refi the loan in your name. I strongly recommend not getting a co-signer for an auto loan.

[Anonymous]

Yeah I really don’t want to but that’s only if I don’t get approved by myself but if I do need a co-signer I’ll just refinance to just have my name on there