I am wanting to get an auto loan to get a truck so I can safely transport my son during the winter. Im looking at a 03 dodge 1500 manual costing around $13,000.
This summer/fall I am going to be working grain harvest, potato harvest, and possibly beet harvest until I start working at the hospital full time which is going to be a career.
However for a month during the grain harvest I will not receive an income because I am paying off a debt to a family member.
I have the consistent income and hefty saving, more than enough to make the truck payments, insurance, repairs and fuel but is there a good possibility the bank will turn down my loan because of the month I will not be getting an income?
Do I need to tell them about repaying the debt?
Any suggestions?
It is going to depend on the lender. I hate to give a vague answer like that, but different lenders have different risk parameters.
http://creditcardgoliath.blogspot.com/
$13,000 for an almost 10 year old truck?
Remember 03
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