Will I get Approved?

Anonymous · ‎07-23-2009

Hi there,

My credit score is truly terrible (in the 500's last time I checked) due to some bad credit decisions and late payments back in college as well as the student loans I'm currently paying off. I make $35,000 a year now at a steady job and finally have some money saved. My car is falling apart and I want to take advantage of the great deals out there right now. I'm looking into a new Ford Focus. My father is going to co-sign a loan with me, and his credit is excellent. Even though my credit is bad, will I still get approved based on his credit?

Thanks for your help!

Anonymous · ‎07-23-2009

If your father's credit is good that will probably make up for your poor credit. A down payment will help as always.

Remember to ask at the dealership if they have college student/grad rebates available.

Message Edited by usmc58555 on 07-23-2009 09:49 AM

JoeBJay20 · ‎07-23-2009

Ford does off a $500 rebate for college students and recent graduates.

nicktheman · ‎07-23-2009

You also get the $500 rebate for military servicem but it doesn't stack with the student rebate.

7/23/2009 eq 650 tu 676
7/13/2009 EQ 642 TU 658
6/15/2009 EQ 631 TU 629 EX 623 (Lender Pulled)
2/8/2009 EQ 609 TU 589
10/7/2007 EQ 498 TU 507

Anonymous · ‎07-23-2009

@nicktheman wrote:
You also get the $500 rebate for military servicem but it doesn't stack with the student rebate.

Neither goes with X-Plan

Anonymous · ‎07-23-2009

I am eligible for the Z plan (my grandma retired from Ford)....I'm sure those rebates don't go with that either, unfortunately.

Anonymous · ‎07-23-2009

No but since Z plan is the lowest price you can get, its a non issue. You will save more money with the Z and existing rebates then you would buying under X or an internet price.

Anonymous · ‎07-23-2009

I was told at the auto dealership this week that a co-signer will help you to get approved, but unless their credit is 800 or over, their credit won't do anything to help the interest rate. Just an FYI ....