I have a couple of friends who just moved to New Jersey and are trying to get a car.

Question

Their credit is not very good, therefore, they have a co signer who is out of state. A lot of the dealerships in NJ have told them that they cannot accept a co signer out of state. Is this the law in NJ and if so, what is another solution? They cannot get a car without a co signer, and none of the banks are willing to finance them without a co signer. It's a bit of a mess! Please advice! Thank you!

Answer 1

My second car I needed my mother to co-sign, I live in NJ she lives in IN. The dealership I went through had no problem with it. They just faxed the paperwork and a copy of her driver's license back and forth. If they don't want a new car it might be easier to go through a buy here pay here just make sure any vehicle you want to purchase is checked out by your own mechanic and not one the place provides. Most reputable ones will allow you to take the car to a mechanic of your choice.

Answer 2

Unless it's a buy here pay here lot, it's not up to the dealership to decide who can and cannot co-sign. That decision is made by the bank or finance company. Maybe they could buy a car in the co-signer's state, and just have it titled in NJ. Or they could pay cash for something. They could also try a buy here pay here lot -- usually all you need for that is proof of income and residency.