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What else can I help you with?
Can I apply for a car loan with a credit score of 593?
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.
Whose credit score is used when you cosign for a loan?
The cosigner's credit score is used. They are the one responsible if the primary signer defaults on payment. Both credits are ruined if the car payment is missed. Be very careful of who you sign for!
If you get a cosigner when purchasing a car will it show up in your credit report or the cosigner's credit report?
It will appear on the CR of both parties.
Who gets the credit when you have a cosigner on a new car?
Both
Do you have to have a cosigner in order to get a car loan?
Having a cosigner for a car loan is not always required, but it can help if you have a limited credit history or poor credit. A cosigner is someone who agrees to be responsible for the loan if you are unable to make payments.
Where do you get a car loan with no credit and no cosigner?
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.
What are the consequences of signing a car loan when the primary borrower defaults on the payments?
When the primary borrower defaults the cosigner becomes legally responsible for the loan. If the cosigner is not able to pay the loan he or she can also be subject to legal action by the lender and the cosigner's credit score will be seriously affected.
If the cosigner has a good credit score will this affect your interest rate on a car loan?
Depending on the lending laws in your state, yes. Some states require lenders to consider both applicants' credit scores, some only require the primary applicant's score be considered when determining the rate, while using the cosigner's score to determine whether or not to apply. Either case though, a cosigner with a better credit score than the primary applicant can only positively affect the interest rate or not affect it at all; it won't make it any worse.
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.
If you have bad credit will you get approved for a car loan with a cosigner?
Yes.
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.
