Dallas-Fort Worth Nesties
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
**Question regarding auto loan**
are there any auto loan officers out there or know how they work? here's my situation. I am planning on getting a new or used car in November/December. A family member of mine is needing some help getting a auto loan as well. If I get a loan in my name for the family member now and they get it refinanced and out of my name by November/December - will it hurt my credit or chances of getting a good rate for another auto loan in Nov./Dec. for my car?
Re: **Question regarding auto loan**
I would guess that it may take a couple of months for your credit/debt ratio to update on your credit reports. If you refinance your family member's loan in November, and then apply for a new one for yourself in December - your reports may show that you still have a loan and this existing debt which will make it harder. That is just a guess.
Also if your family member has any late payments or no payments during that time, that will obviously hurt your credit in a permanent kind of way. It is really a terrible terrible idea to do this.
This. Exactly. I've heard way too many horror stories to ever think this is even remotely a good idea. Sorry! Besides, if they already have trouble getting a loan on their own, how do you know they'll be able to get one in a few months?
What makes you think that this person needs your help getting a loan now, but will be able to refinance on their own in 5-6 months? BESIDES the fact that you should NEVER enter into a loan with anyone else unless you are fully willing and able to pay each and every payment on your own, I seriously doubt that this person will have the financial ability to refinance in a few months if they cannot get a loan on their own right now.
But if you really insist, go for it, I guess. It may not hurt you too badly. I have had 2 car loans simultaneously before. I had a loan for my car and then I got a loan for my husband's car since I had better credit.
I agree w/ pp. I work in auto finance and my opinion is to not help your family member with their loan. First, bc of the economy banks have really tightened up on lending and your family member may not be able to refinance in their name only especially in such a short amount of time.
Also the inquiries from banks pulling your credit bureau when you apply for the loan w/ your family member could knock your credit score down slightly. Also we look at stability, I am not sure what your other credit looks like but turning a loan around that fast could hurt your chances alone as well.
GL with whatever you decide.