- Centurion Member
- Posts: 241
- Joined: Fri Jun 07, 2013 9:46 am
- Location: Broward County FL
Wouldn't having an auto loan decrease your chances of getting a good loan yourself if you decide on purchasing a car in the future? Once he pays it off it can help your credit, but in the meantime if you decide to get a car I'm sure the bank will ask you how you expect to pay off two cars.
You're taking on a large liability. I've started building my credit to become credit worthy by the time I decide to buy a car. Save your credit since the auto loan will affect your ability to request CLIs and apply to new CCs as well.
American Express: Blue Cash Everyday (10k), Everyday, Plenti ; Discover It (7.3k) ; Target (1.6k)
Citi: Diamond (2k) ; Bank of America: Cash Rewards (2.6k) ; Capital One: Quicksilver (3k) , Sony ; Chase: Freedom (3.7k), Slate (3k), (Amazon) ; Barclay Ring ; Synchrony: Walmart MC, Amazon, Ebates