I moved out of state for a job but I'm now considering moving back. Been on the job for 6 yrs and my credit is in the upper 600's last time I check which was about 2 yrs ago. I want to move back home so I was thinking of selling my car which I could get about $5000 maybe and then trying to get a personal loan or a car loan from the bank for about 25k-30k. Use 15k to get a new car and the other to help with my expenses while I move back and hold me until I find a nice job, just in case I don't find one before my move. Is this possible?
2007-01-09 04:54:54 · 3 answers · asked by T J 2 in Business & Finance ➔ Personal Finance
Well my current vehicle won't last much longer. I plan on finding a job before I leave, but that's easier said than done.
2007-01-09 05:05:55 · update #1
It would depend on what you have in the way of assets and income. If you are asking to borrow the money without having a stable income, such as you would if you are between jobs moving, you are unlikely to get this loan. $30,000 is alot of money to have loaned to you with no real collateral. It is possible to get it, but I would expect to pay a high interest rate, and you should definitely have a job lined up before you consider going to a bank to try to get the loan.
2007-01-09 05:11:16 · answer #1 · answered by theeconomicsguy 5 · 0⤊ 0⤋
With a credit score ranking within the top six hundred's you will have to be equipped to get authorised for a dwelling mortgage with no co signer. You will almost always no longer qualify for wherever close the five hundred+K mark that you simply received along with your dad...however being 23 I do not believe you quite desire a dwelling valued at that so much. I simply purchased my first dwelling a few months in the past. GOOD LUCK!!!! And get a cost lock...as charges are going to maintain to transport up within the coming months.
2016-09-03 18:58:51 · answer #2 · answered by erlene 4 · 0⤊ 0⤋
Why would you do that?
Find a job BEFORE you move, keep your current vehicle and don't go into debt needlessly.
2007-01-09 05:03:05 · answer #3 · answered by mom2trinityj 4 · 0⤊ 0⤋