We start with our kids when they get a their first job. The apply for a sml cd load,the money goes into a savings acct in the bank where it was accquired,payments are made, the savings acct is NOT touched. This takes approx 18 months. We have been with the same bank for 18yrs. Go to the bank if you have a debit card,ask to speak with a loan officer and tell them your delima. This is usually a small loan of about $1000. Because we did this with our son,he was able at the age of 19 to qualify for a car loan. We do NOT cosign for anything for our children. We love them but if they default it becomes our problem and effects our credit. |