I have my own auto loan, along with one I cosigned for with my girlfriend about 2 years ago. Everything is going great with her loan BTW, all payments have been made by her not me.
My auto: $350
Cosigned loan $270
CC balance 2k (not revolving) avail credit 35k
Credit score should be right around 750.
I want to get a new car, loan would be around $30k-two questions
Is this doable?
Will I qualify for the loan with the additional loan I have cosigned for? Can I provide proof from her bank statements she is paying it all herself?
Her credit is improved and would qualify for her own loan now, but she will be ready to get a new car in about 6 months herself, so I really would rather avoid having her go to refinance it for such a short time.
I would think you'd be OK
if you are buying new it won't be an issue at all just finance it through the manufacture and probably get 0% or whatever but the payment is going to be quite a bit more than you currently pay.
I am trading in my car with this purchase. I am purchasing a used car, but given the year etc I hope to be able to stay around 3% apr, I have been able to do this, lower actually even on used financing through Penfed.