Most accounts that have been closed (for whatever reason) will stay on the credit record for seven (7) years. Some companies keep tradeline items on the report for ten (10) years.
If you paid off the loan more than seven (7) years ago, the credit bureau may have removed the tradelline. Also, not all of the credit bureaus are provided insight into your credit activities. Some lenders only use two (2) and some only use one (1).
To be sure that the tradeline is not present, find out which credit bureau that your lender exchanges quality-of-payment information with. Alternatively, get a copy of all of your credit reports (free once a year at annualcreditreport.com) and look for the auto loan.
If you are not able to find the loan in any of the reports AND the account has not been paid off for more than seven (7) years, you can ask the credit bureau(s) to add the activity through a dispute process.
No. The cosigner would have to apply for a loan in their name using their credit, income data.
yes, the reason for the co-signer is either due to lack of credit or the possibility of insufficient income to repay the loan
yes it does, it will go down even more if the co signer has good credit.
not if you make your payments like you should a cosigner is only called upon if you default on your loan
yes it will, as a co-signer you are held just as responsible as the primary loan holder and it will appear on your credit report no matter if the payments are made on time or if they are late.
No. The cosigner would have to apply for a loan in their name using their credit, income data.
Nope
If you have bed credit, sometimes having a cosigner is the only way you can get an auto loan. The people who lend you the money so you can purchase the car want their money back with interest. If you have bad credit, they may think you will not pay them back. They may think your cosigner does not want his credit ruined and will pay them back. So, while they would not give you an auto loan, they would give you an auto loan with a cosigner who has good credit.
i was able to get an auto loan with the help of a cosigner and im under 18
Chances are unlikely. Unless, you have perfect strong credit and a lot of money
yes, the reason for the co-signer is either due to lack of credit or the possibility of insufficient income to repay the loan
As far as the auto loan you cosigned for, nothing will happen as long as the person who actually borrowed the money makes the payments 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.
yes it does, it will go down even more if the co signer has good credit.
Yes
The cosigner I believe but check with the loan issuers it's in the details.
Usually no. You can try like a cheaper car dealership and see if they will, but they look at credit history to see if you made previous payments on time.