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If you are sixteen can you get a loan for a car if you have somebody with good credit who will cosign for you?

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βˆ™ 2010-02-03 13:02:24

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Yes, that's the simplest way to do it.

2020-12-02 03:23:08
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Related Questions

Can a spouse with good credit cosign a student loan for their spouse with bad credit?

That is decided by the LENDER.


Can you cosign if you are unemployed?

That is not likely because you wouldn't be a good credit risk.


Can your parents cosign for your house loan?

Anyone can if they have enough good credit. Relationship to you has no bearing.


Can you cosign multiple loans?

yes, as long as your credit is good enough for the respective loans.


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.


Do you have to have any credit to cosign for an apartment lease?

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.


Can someone on social security benefit's cosign for a loan?

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.


Can a person with bad credit cosign for a car loan?

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.


Do you have to be a relative to cosign?

no.my father cosigned for me,but the bank told me that anybody could cosign..good luck to you.


Where could one finance automobile purchases with a good interest rate on their loan?

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.


How can you get a bank lown at 20 years old?

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.


Can a bankrupt person cosign a loan I have a good credit score but not enough income. My father makes over 100k a year but got over his head with credit cards. Is he still able to cosign my loan?

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.


Can you cosign for a car while in chapter 13 bankruptcy?

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.


Does a cosigner have to have a glowing credit history to cosign on a lease agreement for apartment - if their income is good?

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.


If you're currently unemployed and your fiance wants to cosign and make the payments on a used car but he lost his license due to a DWI can he still cosign for you?

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.


What are good credit reporting agencies?

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.


Can you cosign for person arrested in another state?

NOT a good idea.


Can your boyfriend cosign for you even though he does not have a job or collateral but he's had good credit for 3 years?

NO. The lender will want to be certain that the co-signer is solvent. Not having a job would not be acceptable.


Do you have to be twenty-one years old to cosign a loan?

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.


If you can't get a loan and ask someone to cosign can the dealer still say no even if the cosigner has really good credit?

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.


What if the cosigner has two car loans and a mortgage can they still cosign?

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.


Can you cosign on a loan if you declared bankruptcy but have a good income and a good future outlook for earnings?

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.


If you cosign an auto lease will it show on your credit report if all payments are made on time?

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 %.


Will there be an effect on your credit history or FICO scroes or mortgage interest rates in the future if you cosign for a car lease which is fully paid upfront for the entire lease period?

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.


What are the pros and cons of cosigning a loan?

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.