You Ain’t Gettin’ No Co-signer

When I was looking to buy my first car (lease actually), I learned a valuable lesson about figuring things out on my own. After putting down $750 and setting a date to take delivery on a new Sentra with the salesman, the owner of the dealership called me and told me I didn’t have enough credit and that I would either need to give them more money up front or get a co-signer.

I told my dad about the situation. He said to me, “You ain’t gettin’ no co-signer.” He asked if I had any extra money. I told him I didn’t. He said it didn’t sound like I was getting that car and that I had better look at other options.

I wasn’t sure what I was going to do at that point. After going through the hassle of getting a canceled check to get my money back from the dealer, I was back at square one.

I was likely to run into the same thing at other dealerships. I had to figure things out for myself. How was I going to get a car with my credit history at an affordable monthly payment? I looked over the scenarios I had to work with: 1) I could buy a used car with the $750 I had. This made me feel uneasy since I had seen other people buy used cars that didn’t last long. 2) I could save up for a larger down payment. That would take months and I only had a few weeks time before the car I was borrowing from my mom would be traded-in. 3) Find an alternate way to get to work. This wouldn’t work. I didn’t live on a bus line and none of my co-workers lived near me.

I remembered that Ford had sent me a postcard about buying a car and getting a discount for being a recent college graduate. I wasn’t sure what recent meant since I had graduated a year and a half earlier, but it was worth a shot. I wondered how they’d sell me a car when the other dealer wouldn’t let me lease one.

I went to Ford and was able to buy a new Ford Escort without having to get a co-signer and without having to put anything more than $750 into my initial payment.

Had my dad handed over the additional money, or co-signed for my car, I wouldn’t have had to figure things out on my own. It also wouldn’t have given me the same sense of accomplishment. It wouldn’t have taught me the lesson of doing things for myself. I wasn’t looking to buy a car, but buying a car instead of leasing it, got me the transportation I needed.

I’ve learned not to rely on others to help me. Not that they won’t help, but I don’t expect it. If you want something, put the effort in to accomplish it yourself. It’ll feel that much more satisfying when you get it on your own.

Is there anything you’re working on, or a situation that you’ve run into, that seems impossible to overcome? How will you respond when you have to figure things out for yourself? How creative can you get? The impossible might just be possible. It’s up to you.