I am looking to finance a car but being that it is my first car purchase having a co-signer is a must. My parents are willing to do so but i am stationed in Nevada and they are back in New Jersey. Can they co-sign for me and how does it complicate the process
I'm assuming you're going to finance with USAA. If so it's VERY easy. We co-signed on 2 for our son. The 1st he was at Ft Hood & the 2nd at Ft Bliss & we're in Ga. Most paper work can be e-signed. Also if you're not married you can give them a certain amount of power of attorney. Since our sons were both single they each had checking accounts that I was listed on. That made it easier to transfer $ to them if they needed it. And also pay any bills that weren't automatically paid while they were stationed in Afghainstain & Iraq. No matter who you're buying from but espicially a dealer ask the USAA rep. if you're getting a good deal. They'll really help you a lot. Also double check...if you get 1/2mile down the road & it gets totaled HOW much are you going to get to cover it...if you're getting a lot less than you'll owe you're not getting a good deal. I'd rather buy 10 houses than 1 car but with USAA's help I don't dread it as much. Last auto I bought...they said I got for $6,000.00 under the value!! Great deal on BMW convertible!! My next deal is going to be done at Barrett Jackson Auction on a classic & I'm very excited. Good luck!!