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Old 08-05-2007, 04:01 PM
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Default Will I need a co-signer?

I'm 18 and if I put $15,000 down on a car that might cost $19,000 will I need a co-signer for the $4,000 loan?
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Old 08-06-2007, 08:02 AM
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You might get the car for $15,000. Tell them you have $15,000 in cash. Find someone that can help you negotiate with the dealer. Have a friend or relative go with you to make a deal. But you will need extra money for registration and car insurance. Good Luck!
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Old 08-08-2007, 01:59 PM
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I don't know any finance manager for any bank that would be dumb enough NOT to give you a $4,000 loan for a $19,000 car.

You see, when you take out the loan, they have that car as collateral. They are almost guaranteed to get their money back (and that's all they care about) if you default on the loan by selling the car. I'm pretty sure they could get $4,000 for a $19,000 car.
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