My cousin would like me to take over his car payments.. as he wants to buy a house. There is close to $10,000 left on it and he says blue book on the vehicle is about $11-12 (2000 Suzuki XL7 I believe).
My parents and I would like to help him out.. but my parents do not want to refinance or take a loan out to do this. He talked to his bank about us assuming the loan, but that was a negative. I will be starting my job soon and will be able to pay for the car.. the payments currently are $430. But without much credit, I won't be able to get a loan on my own.
I suppose I'm wondering what else can be done in this situation, if any. If nothing can be resolved with his car, my parents are willing to just buy me a new car (long story that).. what can I do? Or even possibly say to my cousin? I consider him a brother, and I don't want this situation to put a strain on our relationship.. help! Thanks!!
2007-03-06 17:49:29 · 3 answers · asked by wlfann23 1 in Cars & Transportation ➔ Buying & Selling
Rather than do that, why don't you get your parents to uy you the new car, AND help your cousin sell his car.
2007-03-08 03:39:51 · answer #1 · answered by al b 5 · 0⤊ 0⤋
The fact that you are asking this question tells me that you have your doubts. Face it, next Christmas and every family barbecue is on the line if you do business with family.
Having a car is like eating cake, you don't have to. All a car need to do to is get you from A to B, the rest is for your satisfaction. All things on credit you will eventually regret, so if you have to, regret something that is at least new, shiny, a chick magnet and exactly what YOU want without having your freedom of choice limited by obligation to family. Go get yourself a brand new car! It sounds like you're young, get a nice sporty one!
2007-03-07 02:11:14 · answer #2 · answered by Future Architect 2 · 0⤊ 0⤋
it good your pants want to help him out, but ,ember if you did, that mean, to redo the loan, which, mean you be paying more for the car,,,so the car when pay off, be wore out long before you get it paid off,,, i say just buy a car out right,, for the time you pay off say 12, they going to re ffinance, rthe car, an you coud ,easy but a new one off the charge they add
2007-03-07 08:05:46 · answer #3 · answered by ghostwalker077 6 · 0⤊ 0⤋