Should Me and my wife apply for new car loans jointly or separate? ?
M.D
Me and my wife just recently got married, and it is time for both of us to purchase cars. My FICO score is 650 and her FICO score is around 750. My salary is almost twice hers. Should we apply for our car loans seperately? I know this would help my interest rate, but I don’t want to hurt her interest rate. Thanks in advance!
Me and my wife just recently got married, and it is time for both of us to purchase cars. My FICO score is 650 and her FICO score is around 750. My salary is almost twice hers. Should we apply for our car loans seperately? I know this would help my interest rate, but I don’t want to hurt her interest rate. Thanks in advance!
April 1st, 2008 at 5:17 am
More than likely it would be better if you applied for the loan together since she has a higher credit score it would help build up your credit and also increase your chances of getting the loan approved.
April 2nd, 2008 at 4:49 pm
Poor credit car loans have been specifically designed for those people who have trouble getting credit due to their credit score being too low, if your credit score is too low then you will be seen as a huge risk and as such the lender will not take a chance on you and so turn you down. You can bring your credit rating back up by doing certain things but it does take a long time and if you want your car now then applying for a poor credit car loan could be your only or best option.Just as with any other type of loan if you go to a specialist then you will get the best deal. You may get the car loan you want from here,
When applying for a poor credit car loan you have to realise that you are never going to get the very lowest of interest rates that others have the luxury of securing but if you go with a specialist they will be able to get you the lowest among loans associated with a poor credit rating. Along with getting you the cheapest possible poor credit car loan the specialist website will also be able to offer you the best advice. However unless you know something about car loans and in particular what to look for when it comes to getting a poor credit car loan then you could end up paying way over the odds for the privilege of getting the loan.
April 5th, 2008 at 8:22 pm
you should both go on together for both cars. with her credit you both should get the best rates and it’ll help you toward the 700 mark.
April 8th, 2008 at 5:28 am
Geez, a lot of spam these days…
Anyway, It would hurt her if you add yourself on her loan, while it would help you to have her on yours. In your current situation, I would have her cosign for your car to secure a lower APR and you should stay away from hers so she can qualify for a lower APR on hers. I was in the same boat with my wife some years back (except the other way around) so I know exactly what you are going through.