Cosigner For Auto Loan Is on Social Security?

My fiance is rebuilding his credit (curr score ~600.) There is a little over $ 2,000 left after paying off $ 21,000 We have a small credit card in his name that we always make payments on.

My dad offered to cosign. He has been at his credit union for 40 yrs, and has used them for $ 100s of thousands in loans, mortages, c.c.s, etc. The only current debt is the mortgage with a $ 10,000 balance. He has 750 credit (due to having no current debt besides the mortgage. He is on social security & besides retirement accounts, he only makes $ 1500/mo. My mom pays all other bills, since she is much younger and is not retired.

My man makes $ 3200-$ 4000 per month after taxes at a steady job. They were denied immediately at a diff. credit union. They cited the reason as that delinquent accounts of my man’s are still there, and said my dad was a great co-signer and not the issue.

I cannot take the loan out. I am in medical school with TONS of student loans, and my income is work at home real estate with my sister. She pays my taxes, so I have no proof of income.

I guess this is long, BUT 1. does his being on social security handicap our odds 2. do we have a better chance w/ my dad’s credit union 3. will a bigger dealership be better?

OH AND my dad’s credit union has had the application since 12:30 today without rejecting it (my dad called at 5:00 exactly and it was still in review.) Is this a good or bad sign?

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