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Car loan HELP!!

So my car just broke down, and I need one pronto, I have bad credit, due to poor judgement as a young adult, but my mom has agreed to help me get a car, she has a 762 credit score, but on her credit report it shows a car loan that she had with my dad, in which he never took her name off of when they got a divorce, he pays on time every month and has paid 10,000 on the car and only owes 8,000, would she be able to be approved for a car loan at a dealer? Pls, help, if you know, or work at a dealer ship gimme some advice!

Answer Question

Asked by Anonymous at 12:43 AM on May. 13, 2011 in Money & Work

Answers (5)
  • Just about everyone can get approved for a car loan. If your mother's credit score is that high, she should get a responsible APR rate. Research everything before committing to one car, and try to talk to dealers down a bit.

    Answer by xxlilmomma09 at 12:45 AM on May. 13, 2011

  • I don't see why she wouldn't be. As long as she's been update on her bills/depts, etc... 762 isn't a bad credit score at all...

    Answer by Anonymous at 12:45 AM on May. 13, 2011

  • it totally depends on her debt to income ratio.

    Answer by emmyandlisa at 12:48 AM on May. 13, 2011

  • My parents have multiple cars that they got loans for at the same time (up to 4 at a time--for them and me and my brother when we were younger living with them). It all depends on how much income she has.

    Answer by laird6372 at 2:45 AM on May. 13, 2011

  • Depends on her income.

    Answer by Candi1024 at 9:43 AM on May. 13, 2011

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