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Car loan HELP!!!!!?
I was wondering can you take out 2 car loans because my mom is getting a new car min 2 wks and i am still saving so can you have 2 of them at the same time? They will be approx 4months apart. The reason is i am not old enough to take my own out
Well this will be my second car because i have been driving a 96 camry for 9 moths now. And my mom has very good credit
2 Answers
- 1 decade agoFavorite Answer
I work in the auto financial industry, I have seen so many parents buy vehicles for their children that become a financial burden for the parent, because you get financed based on your credit history, and does not take into consideration the future (such as a disaster like losing ones job). It ends ruining their credit and often repossession. Do yourself a favor. Save the money and buy a very modest 2nd hand vehicle the first time around.
