That is decided by the LENDER.
That is not likely because you wouldn't be a good credit risk.
Anyone can if they have enough good credit. Relationship to you has no bearing.
yes, as long as your credit is good enough for the respective loans.
Yes, that is the premise of having a cosigner. The person cosigning must have a reliable, acceptable level of income and a good credit history.
Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.
I don't think so. The reason for a cosign is because the person buying the car has bad credit and the cosigner is a guarantee to the bank the loan will be paid. Two bad credit reports doesn't equal one good one. Since you have credit problems I wouldn't sign because that will add to your debt ratio to income and actually harm your credit.
no.my father cosigned for me,but the bank told me that anybody could cosign..good luck to you.
The best way to receive a good interest rate on your loan is to either have a good credit score or have someone cosign with a good credit score. You can usually receive the best rates with banks or credit unions that you have been a member of for a prolonged period of time.
you need to get someone with good credit who trusts you and is willing to cosign for the loan, meaning they will cover the payments if you screw up.
Anyone the lender accepts can be a cosigner...that is entirely the lenders choice. However, they naturally want someone more qualified, having a higher credit score, than the primary. Your father likely does not.
No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.No. You would not be a good credit risk nor a sensible guarantor if you are in bankruptcy yourself.
They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.
Whether he lost his licence doesn't matter. What matters is that he is making money and is able to pay if you default on the loan. It also helps if he has good credit.
Credit reporting agencies are agencies who are dealing with credits.If you want to investigate somebody with regards to her or his previous credit performance, then credit reporting agencies are the place for you to approach.
NOT a good idea.
NO. The lender will want to be certain that the co-signer is solvent. Not having a job would not be acceptable.
Not always, it depends on the laws of the state and the lender. Some lenders will consider an eighteen year old ,if they are credit worthy. Meaning they have a good credit history and a verifiable, acceptable income level.
A lender can say no for any reason at all. Usually, though, if you can establish employment and have a good co-signer, a lender will agree.
They could still cosign. It would mainly land on the bank to see if they would approve this person as a cosigner. More then likely they would if they have a mortgage as well as 2 other car loans that are up to date. This person probably has very good credit and all they'd need is a good amount of funds coming in to get approved.
Whethr or not you would be eligible would be the decision of the lender. Many lenders consider a person who has discharged a total liquidation bankruptcy and is gainfully employed as a good credit risk, as it is assumed the person has no outstanding debts.
Yes. It shows up on your credit report as a co-signed loan. The up side is you will receive credit for a good loan on your credit report. The down side is if you apply for credit they will usually count that debt as yours since if the maker does not pay you are responsible and if they use any type of debt to income ratio to qualify that will increase your debt %.
No. It should show on your credit report as a loan with 0 balance. However it could help if you paid 1/4 each month for 4 months if you have time as it would add to your good credit.
The pros are really only for the person who needs a cosigner. The reason they need one is because they do not have good enough credit to get the loan on their own. By Cosigning with them you are helping them to build their credit with a loan they wouldn't be able to get on their own. It also is listed debt for bolth people so If the cosigner trys to get their own loan later they will take that additional debt into account against them. The big con is that if the person you cosign for doesnt pay you are liable for all the money and if you don't pay it it goes against you credit. Be very aware who you cosign for and that they can be trusted because they can hurt youre credit as well as theirs if they don't pay.