My cousin from cinci wants to apply for a car loan and is in this situation.
She has a 4+ yrs credit History with 3 CC's and an Auto loan of 8k with Capone.
Her Current utilization is 9% on the CC's and Auto loan is about to be paid off next month.
Baddies, 30 days late on CC ,18 months ago and also 30 and 60 days lates on Auto loan from Dec 2005 and Jan 2006.
Her Income is 60K per annum, employed full time since 2 years and her Fico's are TU 651 and EQ 648.
She wants to purchase a new car for $25k, most probably a CR-V/ Ford Escape and has abt 5k in downpayment.
What are her chances for approval with Toyota/Ford or any other Bank? She is not a member of any CU and since no one from our family is in Military, she can't qualify for NFCU or any similar ones.
She has asked me to cosign incase they deny her.I am v nervous to cosign for anyone and would want to avoid it.
Please advice.
My Fico's TU:681 and EQ:673
