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If you get a co-signer for a car will you own the car and will it still help establish your credit?
Wiki User
∙ 8y ago
You will own the car once it is paid off and you can take the co-signer off once you pay it off. The co-signer is only someone the bank falls back onto to make the payments in case you dont. In turn if the co signer doesnt pay either it affects both yours and the co signers credit negatively.
Wiki User
∙ 8y ago
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If you own your car and it's in your name but the loan is in someone else's name with you as the cosigner will that still help your credit?
Yes, it will still help your credit.
If we have bad credit will a cosigner help us get a mortgage?
Yes, a person with bad credit can get a cosigner for a mortgage. The cosigner will have to have excellent credit and must go into the office to sign papers to become a cosigner.
Does having a cosigner help your credit?
Yes, having a cosigner on a loan or line of credit/ credit card can help your credit. It can help because, assuming they have good credit, you are more likely to get approved, which gives you a chance to build your credit. The danger is if the cosigner where to default on payments or abuse the account (such as using a credit card you both are signers on to rack up a lot of debt). So if you pick your cosigner carefully it can help you- but remember what you do on the account effects their credit, so make sure you are also responsible with the account.
Can prompt payments help increase a cosigner's credit score?
yes
Can a cosigner help your credit?
from what i know when you sign on a cosigner you hand your item to them so if you make good payments it builds their credit if you fail to make payments it hurts their credit but it is a good way to start.
What does a cosigner have to to have?
A cosigner must have good credit, a reliable income and the willingness to sign for another individual. Cosigners help primary borrowers build a good credit history, along with on-time payments.
Do I Need A Cosigner To Get A Business Loan?
In case your cosigner has an excellent credit score and is a relative or closely affiliated with your business, this can help you qualify for a business loan.
If you have filed bankruptcy can a cosigner help you get a credit card?
yes and so will $400 as 'security" deposit.
What credit cards can you have cosigners for?
Cosigners take 100% responsibility of that debt. It is no different than if they went and took a loan out and gave you the money. If you choose not to pay then the Cosigner is stuck paying the debt. Most credit card companies will accept a cosigner as long as they know they will get their money one way or another. Cosigning for a small amount on a credit card such as $500 - $1,000 is a good way to help your children establish their credit rating and hopefully become more independent. Marcy
Does paying your car loan on time even with a cosigner help build your credit?
Yes. It will also improve the co-signer's credit too.
How long could a cosigner help you rebuild credit?
Co-signers and CreditA co-signer really doesn't help you build credit, because the loans are actually based on the credit of the co-signer and not you. Type this in Google..........How can I rebuild my credit? for information
Can anybody get a loan as long as they have a cosigner with good credit?
You can get a loan since you have a cosigner with good credit. I am Mr Habert Robin a private loan lender. I lend out loans to those who are God fearing who will not fail to pay back my money with low interest rate.I do this to help those that are fanacially stressed.I will be able to help you if you are still in need of the loan you asked for on the website www.wiki.answers.com. If interested contact my mail via; hrobinlendingservice@yahoo.ca
