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Will putting a big down payment on a car suffice even if you have a poor credit rating and a co-signer that has OK credit?

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βˆ™ 2015-07-17 17:41:06

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If you have a job that pay's $1400or more a month and your 18 or older you could get financed on your on,with 70% down.i have been in the auto businessfor 15 years and can help you make the right decisionsmy name is Steve haynes 1-800-489-2070

2015-07-17 17:41:06
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Related Questions

Does a cosigner have to have a job?

No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.


Which states' lenders are supposed to notify the cosigner before reporting a late payment to credit bureaus?

None


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.


How long does a company have to inform a cosigner that the borrower is in default in payment?

It is their legal right to never inform you and simply allow your credit deteriorate. It is your job as the cosigner to make sure the contract is up-to-date.


Should a co signer be told if something they signed for is getting repoed?

No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.No. The cosigner should make certain the loan payments are being made since they guaranteed the loan would be paid back. If the primary borrower isn't paying then the cosigner must pay or their own credit record will be ruined and the lender can go after them for payment.


As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?

Nope.


Can a Cosigner have little or no Credit?

Yes.


I just bought a new car but two days later the dealership called and said i need a cosigner I found one and they have very good credit should my APR and monthly payment go down with a cosigner?

No because you applied for the loan with YOUR credit. For whatever reason (you have the right to find out why) the dealership decided you were too big of a risk to be granted the loan you requested. The purpose of the cosigner is that in case you mess up your cosigner will be responsible for the loan.


How is a cosigner affected when the primary signer is late on a payment?

The late payment(s) will show on the co-signer's credit report. If the loan defaults, the company can look for the co-signer to pay the remainder. Co-signing is very risky if the primary borrower has poor credit--it reflects poor payment habits.


Does the credit of the cosigner gets affected if car is not paid?

Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.


What credit cards will allow you to have a cosigner?

unsecured


Does your credit still go up if you have a cosigner?

No


Can you remove a repossession off your credit report if your cosigner has a judgment on the repossession?

No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.


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 a person with bad credit get unsecured loans or will he need a cosigner?

Surprisingly, even a person with a bankruptcy can often get small unsecured loans with a couple years of good payment history. Other loans will need a cosigner or may be totally unavailable, though.


When getting a loan with a cosigner does the credit check go off of the cosigners credit or the borrowers credit?

The credit of the primary borrower(s) and the cosigner(s) are equally affected (positively or negatively) and both are subject to the credit history check and evaluation.


Is the cosigner of a vehicle liable if the it gets repossessed?

Yes. That is the point of the lender asking for a cosigner. The cosigner will have a repossession showing on their credit as well as the primary lender.


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.


Can you get auto financing if your credit is not perfect?

Yes, even if you have less than perfect credit there are options for auto financing. Majority of the time you can pay a larger down payment and have smaller monthly payments. Also you can have a cosigner with good credit to sign with you to lease a car.


If you are a cosigner in someone's loan for a line of credit and he is at default what can the cosigner do to take his name back?

Nothing. The only option for being remove as a cosigner is to have the original loan refinanced without the cosigner participating.


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


Who gets the credit when you have a cosigner on a new car?

Both


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.


What is a sentence using cosigner?

If you need a cosigner for the loan because of bad credit, it means you can't afford the car.


If the cosigner of your credit card files for bankruptcy will this effect your credit rating as well?

Yes. It's possible that the financial transaction that the cosigner was involved with (liable for) might also be affected.