SouthPole1989

hi, i am trying to fill out for car loans and i was wondering what does Number of Dependants mean. i did a quick search and i could not find anything.

Techun

i had to fill this out on a job applications

I think it's the number of people who rely on you, like children

im not sure

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itchynate

A dependent is some one , including yourself, that is claimed as a dependent on thier taxes. You can claim 0 or 1. But may differ if YOUR parents claim you on thier taxes, which they prolly do. Check with them first.

Also turning in multiple loan aps can hurt your credit too.

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SouthPole1989

they don't claim me. so i would put 0 or 1.

itchynate

Depends on what you have on your w2 for work. I would imagine most kids would claim 1 get more money on thier checks...? Call your manager they should be able to tell ya.

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bldegle2

"hi, i am trying to fill out for car loans and i was wondering what does Number of Dependants mean"

>>>>>>>>>>>>>>>>>>>

if you are single and your parents don't claim you as a deduction, then you would put 0, if you were filling out a w-2, then you would put 1.

if you are still living at homey and your parents claim you as a deduction, you still would put 0 for the car loan.

if you are married, with or without kids, start adding one for each...........including the wife...........

confused yet?????

and the poster that alluded to numerous credit apps flying in all at once, it can put red flags up on your credit.................

laterz,

baldy

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ShadowSC2

I work for a dealership. When filling out the credit apps and we get to the dependents, I generally leave that part blank. I'd put a zero if anything. Simply because they use that in conjunction to what your rent/house payment is to determine if you can afford a car payment and if so how much of a payment you can afford. The hire your Debt/Income ratio, the less money they're willing to loan you on most cases. Unless you have like a 700 beacon score. Then the banks just don't care because they know you're going to pay your bills anyway. LOL And like stated above, be careful how many banks the dealership sends your application to. Each one of the banks will also pull your credit score, and with each inquiry, your credit score will drop. If the dealership is any decent, they'll have a great finance manager that has a book of guidelines that he can look at to see exactly which bank is most likely to finance you. Our finance manager is great, he can usually pinpoint down to one or two banks that'll do a deal.

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Ssicarman

A dependant is just that. Another human being (goldfish etc don't count) that relies on you to sustain them selves.

IE. if you are married and your significant other does not work or have a source of income and has to have you to provide them with shelter, food and the neccesities of life they are your dependant. Same thing with children.

The loan people want to know where your money is going. All yours or do you need to spend it on others.

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SouthPole1989

ok so when i move out in like 3 months i would put 1 because i would have 1 roommate

bldegle2

hehe, roommates don't count.............

married with wife and kids, wife and kids count, roommates don't, although I am sure many have tried to write off roomies, dogs, cats, snakes................................

when you move out, you would put 1 or 0 for a w-2, but for a loan, you have 0 dependants if you are by yourself (roommates, again, don't count).

laterz,

baldy

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