Loan at 17?

[squeak9798 5,000+ posts]

Who takes on the risk of being a cosigner without the ability to fulfill the obligation? //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

Most of them have the ability......it's the willingness to pay that they lack.

I once had a cosigner return a letter to me with a note scribbled on it requesting I insert that letter into my anus //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[SRim23 5,000+ posts]

Well, I learned the hard way also. I was in debt by about 12k by the age of 21yrs. Im 28yrs now and just trying to get over it.

yep, 10k debt by 20 yrs old still has a strangle hold on me at 24. getting close though!

to the OP, dont know if this has been said yet but i know any loan ive tried to get they dont even consider what you are earning until youve had that job 6 months or more.

if the parents are willing to co sign why couldnt they just get the loan for him? im assuming they have a better chance at getting it than him.

 

[Lingerfelt 10+ year member]

Ask the millions of folks in foreclosure....

The //content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif denoted my sarcasm. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[lilmaniac2 5,000+ posts]

my credit score > most 717 ftw

 

[duece212 5,000+ posts]

Out of curiousity, what year/model of car. Curious about a 17 yo who may be horribly upside down in a car loan before long.

 

[Lingerfelt 10+ year member]

my credit score > most 717 ftw

703

"High balances". Put too much on my credit cards, much more than 30% of my available funds. **** rebates. //content.invisioncic.com/y282845/emoticons/frown.gif.a3531fa0534503350665a1e957861287.gif

 

[3kracing 10+ year member]

My mom got her loan for her new car at 0% for 72 months //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[dman4486 5,000+ posts]

My mom got her loan for her new car at 0% for 72 months //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

and when she doesn't pay it off in 72, she gets @$$ ***** with interest

 

[squeak9798 5,000+ posts]

my credit score > most 717 ftw

squeak > hicks

//content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

I could also give a shit less what my score is.

 

[lilmaniac2 5,000+ posts]

squeak > hicks
//content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif

I could also give a shit less what my score is.

How old are you tho

 

[3kracing 10+ year member]

and when she doesn't pay it off in 72, she gets @$$ ***** with interest

6 years for a 20k car? 277 a month. If someone can't pay that off they shouldn't have any business getting into a loan

 

[ThomasG 5,000+ posts]

Why does a 17yr old need 15k in the first place?

 

[duece212 5,000+ posts]

This thread kinda reminds me of Kennyp

 

[Lingerfelt 10+ year member]

Why does a 17yr old need 15k in the first place?

Down payment. //content.invisioncic.com/y282845/emoticons/smile.gif.1ebc41e1811405b213edfc4622c41e27.gif

 

[Flipx99 5,000+ posts]

saweet.....I think ill get my first card tomorrow
what do you typically buy (price range) to work on your "credit"?

I buy gas. I get a good rebate on it. It's all about discipline.

I'm all for establishing credit via installment loans versus revolving debt. "Kids" will be less tempted to get themselves into trouble that way.
I just think starting off @ $15k is a bit much for someone with zero credit experience.

It was far cheaper for me to use the CCs vs. installment loans at higher rates. Again, discipline is they key.