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Can a person with no credit history get a car loan with a cosigner?
Wiki User
∙ 16y ago
Yes, as long as the cosigner's credit is in good standing. This is a good way to build credit for yourself. Try a Kia dealership KIA has been known to assist people to build credit. You will need a good job (a plus if you have been with the same company for 2yrs or more) Another plus is to be able to provide a decent down payment. ($2,000.00 or more. ) Having a car to use as a trade in will help. Good Luck
Wiki User
∙ 16y ago
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If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
What are cosigner qualifications for a car loan?
You select a cosiger have good credit history is big qualification for car loan.
If your a cosigner and want to remove your name before the loan is paid off will this affect your credit in any way?
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
Can you get a personal loan without a cosigner?
It all depends on your personal credit history. If you have a bad credit history or no established credit then it can be difficult to get a loan. Anyone can get a payday loan but it is not recommended as the interest rates are outrageous. Contact your local bank for more information on how to get a personal loan.
When getting a loan with a cosigner does the credit check go off of the cosigners credit or the borrowers credit?
The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.
How can you obtain a student loan without a cosigner?
You can get a federal loan also known as Stanford loan, as it isn't based on your credit history it doesn't need a cosigner. Private loans also don't need credit history and other stuff.
What are the qualifications of a cosigner?
Normally a cosigner has to be able to pay the loan if the signer does not pay. So the cosigner should have better credit than the person seeking the loan.
What happens to a cosigner of a car loan when the primary loan holder files bankruptcy and the loan is discharged and they do a voluntary repossession?
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?
Yes.
What are cosigner qualifications for a car loan?
You select a cosiger have good credit history is big qualification for car loan.
If your a cosigner and want to remove your name before the loan is paid off will this affect your credit in any way?
A cosigner cannot simply remove their name from the contract. The cosigner is obligated equally with the primary borrower until the loan is paid. A cosigner's credit history will be affected, hopefully in a positive way.
Can you get a personal loan without a cosigner?
It all depends on your personal credit history. If you have a bad credit history or no established credit then it can be difficult to get a loan. Anyone can get a payday loan but it is not recommended as the interest rates are outrageous. Contact your local bank for more information on how to get a personal loan.
When getting a loan with a cosigner does the credit check go off of the cosigners credit or the borrowers credit?
The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
Do personal loans generally require collateral or a consigned?
It really depends on your particular situation. If you are a young person like 25 or under and trying to get a loan, you may have to get a cosigner. If you have a history of good credit and are older, you should not have to get a cosigner.
If you cosign an auto loan for someone and they refinance in one year and remove you from the loan how will that affect your credit assuming all payments are made on time?
The cosigner's credit isn't affected one ioto unless the person who was responsible for the loan payments defaulted, then and if the cosigner also defaulted. In other words, just being a cosigner does not affect ones credit ratings.
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.
