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How does defaulting on a car loan affect your future credit?
Any default on any loan will damage your credit in the future.
If a cosigner on your car loan start getting bad credit from her credit cards should it affect your credit too?
not if you make your payments like you should a cosigner is only called upon if you default on your loan
How can being a car loan co signer affect applying for a mortgage?
If they pay the loan late it will report on your credit and effect your credit score--which effects your rate. But if they do pay late, and you can show from cancelled checks that they pay the loan you can still get a loan.
Does having bad credit affect your APR for a new car or home?
Bad credit will affect your APR on any new loan. Most banks use a tiered credit system to determine APR.
What is the difference between car loan and personal unsecured loan?
A car loan is a secured loan. If you don't pay the car loan, the lender can repossess the car. A personal loan is a loan based on your credit worthiness as judged by credit reporting agencies like Equifax. This "credit rating" is usually based on a FICO score, which views a variety of factors such as credit experience, lines of credit outstanding and payment history with other companies.
What do you need to co-sign for a car in Florida?
There is not a strict set of requirements for cosigning. You will need to be over 18 and the lender will need to believe you are a good credit risk. This is based on your credit score. You should be concerned with the obligations cosigning a car loan will create for you. See the Related Link for "Experian: Advice on Cosigning a Loan" for info on this.
What do you need to co sign for a car in Florida?
There is not a strict set of requirements for cosigning. You will need to be over 18 and the lender will need to believe you are a good credit risk. This is based on your credit score. You should be concerned with the obligations cosigning a car loan will create for you. See the Related Link for "Experian: Advice on Cosigning a Loan" for info on this.
Does trading in a car affect your credit?
Trading in a car does not affect your credit unless you sign a new car loan and get a new car. This may negatively or positively effect your credit.
How does defaulting on a car loan affect your future credit?
Any default on any loan will damage your credit in the future.
How can car debt affect the rest of your life?
Failing to make payments on a car loan could ruin your credit.
Will a car loan affect chances of getting a school loan?
In the US, no it won't. Your credit and job history do not play a part in student loan eligibility.
If a married couple buys a car using the wifes SSN for credit purposes and the husbands income to get a loan what happens if the car is repossessed and whose credit will it affect?
The person or persons names that appear on the loan contract.
If a cosigner on your car loan start getting bad credit from her credit cards should it affect your credit too?
not if you make your payments like you should a cosigner is only called upon if you default on your loan
Can you apply for a car loan if you are disputing items on your credit report?
Get your disputed items cleared and marked paid before you get started on the loan. Having derogatory items on your credit report will affect their opinion of your credit worthiness.
How can being a car loan co signer affect applying for a mortgage?
If they pay the loan late it will report on your credit and effect your credit score--which effects your rate. But if they do pay late, and you can show from cancelled checks that they pay the loan you can still get a loan.
Does having bad credit affect your APR for a new car or home?
Bad credit will affect your APR on any new loan. Most banks use a tiered credit system to determine APR.
How will defaulting on your mobile home loan affect you in South Dakota?
IT'S LIKE DEFAULTING ON ANY OTHER HOME LOAN. YOUR NAME WILL GO INTO THE CREDIT BUREAU IT WILL AFFECT YOUR CREDIT SCORE AND NOT BEING ABLE TO PURCHASE ANOTHER HOME/CAR.
