Posts by Steven White

Can my co-signer be someone from my family, like maybe my dad...

So I've got a few things on my mind regarding getting an auto loan.

Basically, I just started working and in the near future (read: about a year from now) I’m looking to pick up a car. I'm at this pretty decent-sized company—won't name names—but the CEO is actually a great guy and super chill to work with. He mentioned he'd be down to let me buy a car through the company to save on taxes... so I'm wondering how that actually works in practice... like, would I have to pay the full sticker price upfront and then get a tax refund later, or does the price just drop automatically because of the tax savings right out of the gate?

As for the loan itself, I've been picking the brains of some coworkers about creditworthiness, but I'm getting mixed signals and honestly can't tell who's right...

Is it true that my monthly payment can't be more than one-third of my paycheck...

or is it more that after I pay the installment, I need to have at least $533 of my salary left over...

thanks in advance for the help!