It will not hurt your credit by returning a car as long as you have not signed any promissory documents.
It will hurt the credit of the person who did get the car for you..please
talk to the lender and to the people that signed for the car before you
The signer might want the car if he/she knows that not only the repo will show up on their credit but also any defiency balance and legal actions.
If you have co-signed and the primary borrower has defaulted, you will need to step up and pay. If not then it will hurt your credit rating.
Some who has character My Friend it is very difficult to get car loan with no credit and no cosigner although you have to contact some good car lenders in your area they can guide you better.
Oh yes it does. That person put their credit on the line when they signed the contract making me a cosigner.
If you need a cosigner for the loan because of bad credit, it means you can't afford the car.
No, they just need good credit.
The creditor will seek repayment of the car loan from the cosigner. As long as the cosigner pays, their credit will not be affected. However, if they are unable or unwilling to pay, the debt will be pursued like any other bad debt, and it will affect their credit rating.
not if you make your payments like you should a cosigner is only called upon if you default on your loan
It depends why you are returning it but it should not
if you have a good cosigner then all that matters is their credit and work history... if you renage on the deal they go after the cosigner
if i let my vehicle get reposesed will it hurt my credit?
You select a cosiger have good credit history is big qualification for car loan.
It will appear on the CR of both parties.
Yes of course you can get a car loan without cosigner if you have bad credit, you have to just find some websites who provide car loans without bad credit and no cosigner simple and fill out the small form there that's it they will contact you within 2 business days.
You should be able to get a car loan with a qualified cosigner. Even with a repossession on your credit you should be able to finance a car loan.
If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.
Having a cosigner has nothing to do with your marital status. It's all about your credit. If you do need a cosigner for lets say a car loan, then it's better to have your spouse sign than ask a relative/friend to sign. Unless your spouses' credit is bad, then you have to look into a person who has good credit. Hope this helps!
Yes. It will also improve the co-signer's credit too.
Yes, it will still help your credit.
This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.
Yes, it can still hurt your credit if you voluntarily return a car. The car company will still put the debt you owe on your credit report if they choose too.
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.