Hello everyone! I am posting because I need advice! I have discovered that there is a real interest on behalf of me and a certain family member to get a smaller, more fuel-efficient car! And as such, I have been assigned the task of selecting an older, fuel-sipping model! The Toyota Corolla (2001, etc) Chevrolet Prizm, Geo Prizm (same car) is the first choice! Found about 3 Chevrolet Prizms 2001 for $3000 already. However, the dealership one is $3500. Now, I would like to epxlain the ssituation.. and it is somewhat complicated!
Thank you in advance for your information.
The State is NJ. My license is suspended, though that should be fine as I wouldnt be driving it. I am 30 in three weeks. My monthly income is $1100 after taxes; more than that before. I have been employed since November of last year, working full time. Staff agency, prospects of permanent. My FAKOS are 606/543/609 (see sig.) I believe I am more creditworthy that the cosigner, though I dont know that person's status.
The plan was to: 1. the GMC, 2. for ifnancing on the $3000 car, fate of the GMC once the fuel-efficient one comes into the picture. We were quoted $4300 from a "buy cars" place for it. We may just keep it. It may just turn into mine.
The co-applicant has a more complex income situaiton. Is not "employed" at the moment, but has a few sources such as Unemployment, a pension, and, yes, spousal stuff.
We are looking for the ~$3500 fuel-sipper cars (Camry, Accord on backburner; Corolla, Prizm, Civic, Escort on main list) and cna probably put down more thna half of it as down payment.
What are we looking at here?
As fair as I know, all applicants would be required to have a valid driver's license, usually in the state where the vehicle is to be registered.
This could be limiting. My license is suspended, not,reinatated yet, im hot on its trail. but I have an ID not a DL at this time. So, there is no way for my average credit to be submitted to lenders for ~$3000 while my cosigner (who has valid license, should I be co-signer? Will it help us?) registers and insures it in NJ?..