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i went to dealer with my dad and talked about financing.
my dad gave his info to salesperson and then he came back with saying that
"your father already has one car loan now, so lenders dont normally want to lend their money in this situation."
Actually my dad's car is too expensive for what he earns. its mitsu montero with loan amount $29000 and he has been paying it for about 2yrs so now $20000 is left.
his credit is not really good actually he doesnt have any late payment but he has 3 collection accounts (hospitals - one paid off, two paying now remaining $5500). and since we ve been in this country for just 2yrs, his credit history is kinda short. he also has $142000 house loan since 12/2002. finally his fico score is 608.
i understand that his credit is not good but salesperson never mentioned my dad's credit was not good but he just said what i wrote on the top.
is that true?

and he said if i would be a co-buyer then its gonna be fine.
i replied saying that i dont have any credit dont even have a bank account.
but he replied it doesnt matter, the reason doing this is just lenders want two names.
he also said this way we could get 1.9% apr special program.
should i believe it?
i thought co-signer should have better credit than buyer. and i never thought about that special program since my dad's credit is not really good even tho he doesnt have any late payments.
should i believe him and be a co-buyer?
it doesnt matter for me since buyer is my dad and i kno he will pay well.
what does matter is im concerning about any trick or something like that since i dont kno any **** about financing and laws about it.
i doubt it would be changed to hurt my dad and me sometime later on.
give me an advice if i should do that.
if i can get 1.9% rate then i will be flying cuz it helps our family's budget sooooooooooo much

sorry for length hope someone helps me truely

 
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oh actually my salesperson was so nice.
he was the nicest one of those salesppl that i met so far.
he was really nice, no ignoring of being azn and poor english.

 
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I think honda only takes people with good credit. I would say a minimum score of 700 but more like 750 and above. Although, you never know....

Keep in mind that the salesman will tell you about anything to get you to making the decision to buy the car. Then, all of sudden, you don't qualify for that great low rate like they promised. Suddenly, your emotions are all stirred because you want the car but will have to pay more for it. Be careful of that little game.

 
Rep Power: 374

How do you find out what score you have???

 
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yeah, see the 1.9 % in writing before you sign anything and if he goes oh, I'm sorry we actually couldn't get you the 1.9, but you got 10.9 or some stupid **** like that, then just walk out. You have to be in control when you buy a car, be ready to say no and leave.

The Co-borrower or owner does not necessarily have to have better credit then the original owner or borrower but they have to be relatively the same, what you will be doing by signing on the loan, you are subjecting yourself to the responsibility of making sure that loan gets paid, because if the money isn't coming from the original owner, it's going to be up to the co-owner to pay up...so be careful who you sign jointly with, I know he's your dad but you have to look out for yourself too.....

 
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go online and look for credit report, you should eventually run into a site that offers you your credit report for a small fee, or free if you do this 30 day trial or something. Make sure you get a credit report that includes your FICO score.