Cosign Question

[syenisch]

Hey everybody,

I will be ordering my new 1 a few weeks before I start my new job (graduating soon). Do I need someone to cosign since I'll be placing an order while I'm unemployed, or is that not necessary since I'll be taking delivery when I am working?

Thanks.

[Lester]

That all depends on who you are dealing with, and what their requirments are. In today's tight credit market, you might well need a cosigner - you might as well line one up ahead of time. Having a cosigner might get you a lower interest rate as well. Good luck.

[dbtheo]

Assuming your credit is strong, & your income is sufficient to your debts, the length of time on your job shouldn't have much of an impact. Most likely they will simply need verification of income.

As for getting a lower rate with a co... not really true

[GMT II]

I just got an excellent rate with "graduate student" as my employer and no co signer. This has worked for every line of credit I have (all prime credit) if your FICOs are 700+ (750+ would be preferred) you can list your name as Donald Duck and still get credit. I am very picky about never disclosing certain info, as such no financial institution knows my employer.

Don't worry.

[syenisch]

I visited All Pro BMW in Gainesville this afternoon and asked about this. The sales rep said everything goes through at the time of delivery, so I wouldn't need a cosigner.