He went to Carmax in Calgary. His credit is abysmal, BUT he had just started a new job with an excellent wage. He couldn't qualify for a loan. Carmax suggested he find a co-signer. When I worked in banking many years ago, the policy was a co-signer must have enough...
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2 comments
Abbe
#1670175

I agree with @CloseBeetle176. I understand your age, however, I feel as though you must have had some good faith in your son and thought/hoped he would pay for the truck because you signed off on the loan, your question is a question you should have asked before agreeing to allow your son to buy a car.

Also, there have been many instances when people can walk into any car dealership with no income at all but because they have stellar credit they are approved. You do not need a job to get an approval because if anything the fact that you have great credit can also mean that you may possibly have a great credit card to back up the payments or cost of the vehicle if something like what actually happened to your son happens! Hopefully, you don't put too much faith into your son again and let him talk you into buying him another car.

Good Luck! That was nice of you to help but only you know your son which means you doubted the situation in the beginning.

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Review
#1491925 Review #1491925 is a subjective opinion of poster.
Service
Carmax Auto Loan
Reason of review
Poor customer service

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