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yes it does, it will go down even more if the co signer has good credit.
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∙ 14y ago
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If you have bad credit and get an auto loan with a person that has good credit would your APR significantly go down?
ANSWER The APR would NOT go down because the co-signer is just a safety net just in case you default on the payment. You might have to obtain credit repair services.
How can you get a 10000 dollar student loan without a cosigner and with a low APR?
Main requirements: Excellent credit, longterm steady verifiable employment, and a history of paying your bills on time.
What will your actual finance charge depend on?
how much of a down payment, length of loan, APR....
How APR impacts choice of loans?
APR affects the value of loan repayments because it's a percentage of the total loan repaid on an annual basis. A low APR makes repayments cheaper than a high APR.
What is the APR for a bad credit loan?
If a customer's credit is really bad, then they may not be able to get a loan. If a customer's credit rating is poor, they may be able to get a loan at an APR of 12% - 15%.
Is the APR of a student loan determined by the credit of the borrower or that of the cosigner?
The cosigner I believe but check with the loan issuers it's in the details.
I just bought a new car but two days later the dealership called and said i need a cosigner I found one and they have very good credit should my APR and monthly payment go down with a cosigner?
No because you applied for the loan with YOUR credit. For whatever reason (you have the right to find out why) the dealership decided you were too big of a risk to be granted the loan you requested. The purpose of the cosigner is that in case you mess up your cosigner will be responsible for the loan.
Where can someone find information about an auto loan with 0 intro Apr?
One can find information about an auto loan with zero introduction APR on the 'Cars Direct' website. They have information as well as lists of advantages and disadvantages.
If you have bad credit and get an auto loan with a person that has good credit would your APR significantly go down?
ANSWER The APR would NOT go down because the co-signer is just a safety net just in case you default on the payment. You might have to obtain credit repair services.
How can you get a 10000 dollar student loan without a cosigner and with a low APR?
Main requirements: Excellent credit, longterm steady verifiable employment, and a history of paying your bills on time.
What will your actual finance charge depend on?
how much of a down payment, length of loan, APR....
How do you calcutate an APR?
APR is calculated by multiplying the amount of the loan by the interest rate. Next divide by the length of time of the loan to get the monthly APR amount.Ê
Where could a person compare the APR on a car loan?
There are many places where one can compare the APR on a car loan. Most loan companies have an area of their website that will allow you to compare the APR offered against other companies.
How APR impacts choice of loans?
APR affects the value of loan repayments because it's a percentage of the total loan repaid on an annual basis. A low APR makes repayments cheaper than a high APR.
How can one UK resident compare loan options from different sources?
The APR or Annual Percentage Rate is the tool to use to compare the cost of paying back a loan. The lower the APR, the cheaper the cost of the loan. All UK loan products will show the APR for any loan you are interested in taking out.
Will having a cosigner lower your APR or enable you to borrow more?
The lender should be looking only at your ability to repay the loan when they determine the amount they will lend, since they assume you will be making the payments. They also want to be sure the cosigner can make the payments if you don't, but they would not combine the two financial statements to determine the amount that the two of you together could afford. They may offer a slightly better interest rate, but if the lender wants you to get a cosigner, it usually means you will not get a loan without one.
What is a typical APR for an auto loan in North Carolina?
Currently, the typical APR for North Carolina sits between 2.99% and just around 4% as a higher rate. The rate available to you is always dependent on your current credit rating.
