Approved Auto Loans

I'm wondering if it is possible to be approved for 2 auto loans in one month? I need a car for myself, because i am going to let my wife have the vehicle i am using. Another problem is, my son needs a car as well. Is it possible to get financed for 2 cars in one month, or is it impossible? Wouldn't it show up to the lendor that their is already a vehicle financed? Wouldn't it be a good idea to go to 2 different banks or lendors for the financing? It would not be viable to apply for 2 auto loans from one company would it? So basically my question is this. Is it possible to be approved for 2 auto loans from 2 different lendor's in one month? I'm confused on how it works and if it's not possible, what would be another viable option?

I hope this makes sense,
Any info is greatly apreciated.

Thank you.
My credit is not spotless by any means (i was young) But i do have a credit score in the 700's. I make about 100-120k a year. Paying for both loans for both cars really wouldn't be a problem. Also, does it help at all from the lendor's that i work for the Government? I would like to be able to get financed for both cars, so i don't have to make a down payment on either car. So i can just pay outright for both cars. I don't want to do anything sketchy or illegal, that's not me. How if it's possible, would i go about getting both auto loans? Would i need to tell both lendor's that i have another loan from another bank for it to be legal? I'm just not sure of how to go about it.

Again any info is greatly apreciated.

Thank you

Yes, it IS possible, but why would you want to do something like that, when you COULD do something much better for your specific situation. If your son is 18, then FIRST go with him to pick out a car, and co-sign his loan so that it will be building his credit and will get approved because you are on the loan. It may be a little higher rate for him, but you will be doing the best thing you can for his credit... building it. THEN go out and get the second one on your own. I mean you could do it the way you were explaining before but you'll need credit in the 700's on the fico score and a huge downpayment on the second car. Aside from that, why let your son have a new car? Take out a loan for about 4000 after you get your car and have him go through the newspaper and get a used car that you won't worry about as much... after all it is his first car, it's GOING to get a few dings. Try for a corolla as it has great saftey ratings, good on gas, and is less expensive than others that will lower his insurance costs. It is one of three vehicles that will cost the least for a male under 25.

2007-03-05 00:10:26 by Shawnk7706

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Where can I apply for an instant approved auto loan for someone who makes less than $600 a month?? I am a student and I really need the car. I don't want to have a high APR% rate though. Anyone know anywhere I can apply?

You won't get an auto loan, instantly or otherwise. You make way less monthly then the minimal amount needed for approval. Your best bet is to save what you can and pay cash for a car until you're out of school and making at least $600 a week and have 3 years of solid credit history.

2008-11-10 10:38:31 by Amay

I have a credit card with Capital one for less than a year and not a high credit limit. Is this really a good deal? What are the benefits to taking advantage of this offer?

They, along with numerous companies, send out these pre-approved offers in hopes of people accepting them. It is kind of a fishing expedition. They throw a bunch of hooks out and hope to catch a few. There are no benefits except for the lender.

2008-07-22 14:11:42 by rocyosoul

JD Byrider helps people with bad or no credit.

2007-01-31 10:51:12 by Tunasandwich

There are a number of places you can apply that specialize in bad-credit auto loans. Here's a site I like that lists a few recommendations -

2007-01-31 10:35:29 by Tunasandwich