Posted July 25, 2018 11:13:13I had no idea I’d be going through this journey for the first time.
My son had already been looking for a car and I’d been working on a list of cars he’d want to buy.
I was looking for something a bit different, a car that would suit his lifestyle and his driving style.
I knew I had to get a new car.
The problem was, I wasn’t even sure I had a car yet.
It all started about a year ago, when my wife, who is a registered nurse, and I started getting more and more concerned about how our finances were going to evolve.
My wife and I had two small children to raise, so we weren’t in a position to purchase a car at the moment.
We also had no real savings and were struggling to keep up with expenses.
My first instinct was to think about getting a loan.
That would give me a cushion, because I was trying to get by on a fixed income.
But I wasn, in fact, making a lot of money when I bought my first car, and we’d been saving for it for quite a while.
We were looking at car financing for a second car, but my wife thought I should consider a loan first because I didn’t want to have to repay that car at some point.
My decision to consider a credit card loan first didn’t sit well with my wife.
I remember thinking, “I don’t want a credit line.”
I thought, “That’s the worst thing I could do.”
I thought about it, I think about it a lot, and then I thought about a loan and I thought for sure I was going to go ahead and do it.
Then one day, I had this idea that maybe I could borrow a little money from a friend.
She agreed to lend me $50 and a credit score, and that was that.
I never had to pay anything back, and my wife said, “If it’s good, then we’ll take it.”
I was so relieved, because it meant I could go ahead with a car purchase.
But then I went and did a little research and found out that most lenders will only consider a car loan if it’s a fixed-rate loan.
It doesn’t take much money for them to accept that, because you can always borrow back the money you borrow.
My wife was so pleased that I was willing to consider the credit card.
But I felt like I had put a lot into it, so she was still upset with me.
So I asked her, “What about a car financing deal?”
She said, ‘Well, I don’t think that’s a bad idea, but there’s a catch.’
So I called a number of credit card companies and told them about it.
I was thinking, this is going to be a pretty tough sell.
They were pretty hesitant.
But they agreed to help me out because they thought it was worth it to help a young family like mine.
I ended up making the car loan offer and my daughter was delighted that it was going ahead.
So now she has a nice car.
I can go back to school and have a normal life.
She’s going to enjoy driving it and we’ll be able to have more money to go out to the movies.
When I looked at the terms, I couldn’t have been more pleased.
It was like a credit union for parents who want to borrow money to help their children buy a nice new car and have it go off the lot.
So what do you do if you can’t get financing for your car?
It’s a good idea to talk to a credit bureau and talk to your financial adviser before you do anything.
They can help you get the best rates and you might be able find a better loan.
For my son, I’m going to ask his financial adviser to help him with that.
So that should help him and make things easier.
But he might not want to go through this with me, either.
I might be the one who ends up having to make a decision.I don