Is your kid going to the college? It is hard for him to her to commute to the college. He or she needs a fast transport to drive to their workplace or colleges. You must think to get him or her one car or maybe they are responsible enough at their own to buy a car.
Kids who are going to the college are not having any credit score, so is it not possible to get a car loan against it. Though with the rise of the subprime lenders, people in America can now avail more high-risk loans. The lenders now agree to give no credit loans to the college goers, but they need to bring a co-signer along with them.
The co-signers whom the college goers bring are generally their parents or well-wishers, the people who has a good credit score. Even they are the people who have no doubt to take the responsibility of the payment if the kid skipped it.
However, the parent has a large role to play as they have to convince the kid to look up at the used car quotes as the loan term and conditions will gel with them. If they buy a new car, it can harm their credit report, before it starts growing.
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