First Car Loan ever in My name, and it’s not for me!

March 25, 2007

Well isn’t that a hum dinger! I am 37 year old, never EVER had a car loan or a car for that matter in MY name EVER! We took my dad to the last possible place before going to some dealers and found out no matter where he went he was going to have trouble getting a car loan on his own with just the social security income. Why is that? Well besides making just barely a thousand a month, most want at least 1300 to 1500 a month. But because his wages are not “garnishable” he could not get a loan on his own. So that brought us to ok I guess I have to co sign for him. They ran my credit and I have a great score, so the dude tried something. Come back to these choices, dad could have me co-sign and they finance him there at 25% interest or do a loan in just MY name, and pay 10% interest financed with a bank and he makes the payments which is under 180 a month with a warranty. So hubby look at me and said well go ahead he really has no choice cause the car for 25% would be much higher in mileage and a payment over 200 a month. So I got the loan in just my name. The car only has 66,411 miles on it, a 2003 Cavilar and two door, small car and payments he can afford. He will make all payments in his name and possibly try after a year or so to transfer into his name at that point and time showing the bank he is the one making payments. Tomorrow I have to call the insurance to get it in my name and HIS name and then within 30 days get the tags put on the car, which again I have to do. We came home took his beater to the junkyard and that money will cover a year of insurance and the tags. His first payment isn’t until May. After we did that, he went for a ride and I came in the house and cried my eyes out. Sometimes I feel its just not fair! Car in my name and its not mine, its his. Sure I can drive if I need to run to the store for milk, but other than that I won’t be driving it cause he is always on the go and never home long enough for me to have a car! WE can’t afford a second car for us at this point. We have 1 1/2 years left and our car will be paid in full then hubby can get his truck! But I continue to make sacrafices. We had no choice really. Who else is gonna take care of my dad? He has no one else. He isn’t one to be emotional or show gratitude and already telling stories of how he got the car on his own to some people. I realize this is probably a “pride” issue but I don’t see any shame in being honest and saying my daughter did this for me. No shame at all. My hubby asked my dad if he thanked me yet, cause he didn’t and in a way that sort of bothered me. So later in the evening when hubby took his shower my dad thanked me. I knew he appreciated it but its nice to hear it once in a while. I wasnt’ raised in home that showed or even said this kind of thing. My poor kids hear it so much I bet they are sick of it. So now we have to pray my dad maintains his health 5 more years, as I jokingly told him at the car place, he was going to be put on life support until the car was paid in full. My lil humor of the moment. So he is happy, behind a safe vehicle and its reliable. So I won’t have to worry when he heads out this summer to his tractor and truck pulls. Should something happen, to him I am not going to want the car, so we will just sell at the time. I am working out some other details now to get his teeth taken care of as this is a must as well. I am still willing to get a job working nights or second shift but hubby is fighting me on this one, with babysitting and taking care of my son who is home all day and taking care of my dad he thinks that is just too much on me. But my resume is written and ready to go!!!

Posted by Susan | Filed Under Bulk Bin

Comments

2 Responses to “First Car Loan ever in My name, and it’s not for me!”

Amy on March 25th, 2007 6:35 pm

Aww, Im sorry you had to put it in your name! It was very nice of you to do for your dad though! â™¥ I bet he really appreciates you and just doesnt know how to say it very often. (((hugs)))
Bevvy on March 25th, 2007 10:32 pm

Aww how great you are to your dad,, thats great news.
About the job thing Im sorta thinkin hubby may be right you shouldn’t take on too much, it won’t be good for ya physically and emotionally..
Huggers!

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