heres the scoop......the GF wants a evo and i have no problem cosigning for her...but heres the catch...right now im in the middle of a deal with a duplex and im also putting her name on it with me...im just wondering if we should wait to get her the car after we get the duplex or if it would be ok to get her the car before the duplex...need some help and suggestions guys!

 

get the EVO after the duplex if you're worried you won't qualify for the duplex. . .if you guys are well-heeled, it won't matter in which order really. . .

 

wait until the duplex deal is over

 

home > car

 

well i know the home is def way better than the car....way better investment,etc. but without my gf's job means less income which means cant afford a duplex and what not....she had a civic and some guy ran her off the road and she totaled it....shes only 20 and cant get a rental...insurance company is slackin...the list goes on...now its just kinda a hassle for everything to work out...also we have a 4month old daughter...anywho things arnt easy with one car....are credit is good but it just obviously would suck to get a new car then come to find out cant get the duplex for some weird reason...

 

If your g/f is 20, totalled a car already, problems with insurance and likely will have problems insuring the evo, no way Id be getting one before I had the house. Buy her a cheap beater car for her job and wait.

 

wait until the duplex, like other people said, and also it's better to have a place than a car anyway. Be pation

 

Get the house first.. When you apply for financing they calculate your debt-to-income ratio, and your net worth.. You need to show you have a positive net worth, can cover the downpayment and closing costs, and that you don't have more debt than you can handle. I would recommend against the Evo anyway if there have been a history of problems with insurance and accidents.. but definitely wait until after you close on your place before you buy anything else. Use whatever you can afford to pay off or pay down whatever debt you currently have though...

 

Don't ever make a major purchase when you're being considered for a home purchase!!! Any significant changes to your credit are a big old

 

i do agree about the house...its def way more important than a car....plus we are rehabing it...we could turn around and sell it when we are done and buy a evo cash....(not going to though) and also insurance wise someone had seen the guy run her off the road...got a police report etc. so it doesnt hurt her...also we just checked out insurance and its only like 250/month for 500deduct....anywho i think we are going to end up waiting until we have the house...plus usually people who sell cars can usually get anyone a car as long as their credit is straight....

 

Don't even consider it. You'll regret it any way you look at it... House first _always_!

 

thanks guys for the advice...wasnt really sure what we should do...looks like we will wait till we got the house then maybe try and apply for the car when we are done and if we dont get applyed oh well! im sure we will later on down the road

 

i work in the mortgage industry and this is 100% correct. i have clients all the time get approved for refinancing and new home purchases and go and buy a car or a bunch of furniture on credit and then get turned down on their mortgage right before closing because their debt to income ratio changes.

 

That is kind of a hard question to answer. Assuming you guys have a good enough FICA and low enough debt to income ratio I would think you would be ok either way as they are both secured loans. And doing them both toeghter might be your best option has niether one would show up on your credit report yet as a new debit. Just think it out before you do it my buddy cosigned on a car for his GF at the time and now he is bankrupt.

 

hmm, I hope I didnt fuxor up my chances in buying my in-laws home. :skurred:
It's been less than a month since I bought my used Evo. Like I told my wife, I "HAD" to jump on this Evo deal. (2003 Evo w/ 14k miles for $19000 before taxes). Hopefully my job interview this week goes well (crosses fingers) and we can get a significant bump in our income.