Quote:
Originally Posted by elh0102
The loan terms will usually not be the same when comparing the cosigned loan with a loan directly to the cosigner alone. Most lenders consider the need for a cosigner as an indicator of higher risk, and collecting from a cosigner is usually more time consuming and expensive for the lender, compared with collecting a direct debt of the cosigner. Whether or not you want to involve a cosigner is your joint decision, but it should only be considered under the assumption that the cosigner will be called upon to pay the loan. This means more than merely making the monthly payment. If the loan is past due, the lender can simply demand the balance in full, and that should be an assumption by the guarantor/cosigner.
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Well that explains it well.,thanks. I was under the impression I would get approved with no problem with a co signer with a 700 credit score as the salesperson told me. I was not told all that high credit needed and revolving credit.
Any way I paid on time over 2 years on my 135 i which was high, I got it the 1st year it came out. Well BMW will give me my M3 as long as I put max MSDs down at a MF of .00245.I really wanted the .00180 and lower with MSDs and thought thats what the co signer was for good credit and good rate. .00180 IS a big difference from .00245
Well here's my deal
OLD deal M3, Vert, DCT, TECH, PREMIUM PKG, 19 inch wheels. .00180
$864 NO Tire pkg - $898 with tire pkg -
With Max MSDs $797 no tire pkg - $831 with tire pkg
New Deal -Cap Cost $1,200 (thrilled)
.00245
Max MSDs is a must
to do deal
$843 no tire pkg- $878 with tire pkg The way to look at it is they are giving me a 80 k car on my own and I belive its costing me $46 bucks more. I am not happy about the $1200 cap cost, bringing it to $79 bucks more a month if spread over 3 years . I just hate Cap Cost. I just figured I give you guys that are always there to help,lend a hand or offer you great oppinions a heads up. I am glad to be here and Thanks fellas. Sry for any snippyness I hate when things don't go smooth. I bet If I went for a coupe it be alot cheaper but there is nothing like a drop top.
BTW anyone wanna become partners on a new BMW M 3 all you need to do is co sign