Tips on Buying Cars: Friend denied loan, malama pono, aloha pumehana

Question
Thank you Ray for your prompt answers!  Sorry more questions...so my
friend and her mom went to central pacific bank the the lenders of the car
loan denied both of them so weird cause the Mom has her house loan as
well.  So the take overpayment thing is out then?  I know that my brothers
credit is way worse than his girlfriend credit for sure.  Kinda weird this bank?
...I really want to help them out do have another suggestion for there
situation besides the co borrower thing? I'm diffinently going to tell them your
1st suggestion just want to have a backup plan just in case ...again much
mahalos!!!
A Hui Hou Malama Pono!
Tiffany


Answer
It really is hard for me to provide answers as I don't know the reason as to why , did your friend get an answer as to why.

There is a problem with the credit score that needs to be fixed - does your friend know her credit score ?

Here are some questions, if they don't want to answer I will understand.

Type of car -  year  - model and miles
Loan amount outstanding
interest rate
term of loan in months.
If seller has bad credit, how did he get a loan ?, my guess is very high interest rate.
There are ways to fix your credit, but that is another area that we can get into another time if your interested.

If your friend is a very close friend, and your credit is excellent, you could take her to your bank and be a co-pilot, without trying to confuse you, the amount of the loan may be up - side down, and not book well with the lender.

If you want to provide some answers to this email, make sure you check the make private box, or your answers will be public, or feel free to email me at
 paulsenray99@yahoo.com  

Me ka aloha pumehana
  Ray