0
To get a car loan with a cosigner, you will need to find a lender who accepts cosigners. Your cosigner will need to have good credit and be willing to take on the responsibility of the loan if you are unable to make payments. Be prepared to provide financial information and documentation for both yourself and your cosigner when applying for the loan.
What else can I help you with?
If the cosigner of a home loan dies will the bank go after his estate for repayment?
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
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.
How can you get a loan with bad credit without a cosigner?
It depends. If it's for a car you can go to any bad credit car place and they will give you credit. If it's for a house you can call a bad credit mortgage broker and they will give you a mortgage if you have a downpayment. If it's a small personal loan you need, go to a payday loan or cash advance store. You need a job and a checking account. Or you can try to get a loan from a bank or credit union if you have collateral like a car or house or something of value. Or you can go get an Auto title loan. You need a clean and clear car title and you get money the same day. These are the only ways I know of.
Does the APR go down if you have a cosigner for an auto loan?
yes it does, it will go down even more if the co signer has good credit.
Does cosigning a loan go on your credit report if the loan is in good standing?
Your cosigner's credit report should also reflect the loan. In this case, it should show as paid on time as agreed.
If you refinance a loan to have the cosigner removed and the cosigner has the car how do you go about getting the car from them if the loan and title are now in your name only?
IF YOU LEGALLY REMOVED THE COSIGNER FROM YOUR CAR LOAN,TITLE AND ALL. IT NOW BECOMES A CIVIL MATTER,WITH EVIDENCE ON HAND A LOCAL SHERIIFF'S MIGHT BE HELPFUL SINCE THEY HANDLE CIVIL MATTERS. I DON'T FORSEE ANY PROBLEMS IN ACQUIRING YOUR VEHICLE.
If you are the primary cosigner on a car and your son is the secondary cosigner can he legally have the car voluntarily repossessed without your consent?
well, if you want the loan AND the car, go get it. Tell the bank that you will keep the car.The bank really doesnt want the car, they want money.Otherwise, the bank will let him give it up if he cant pay. THE co-signor is the one with GOOD credit. If the signor didnt need help getting the loan, there would be no "co" signor.
Does a cosigner have legal rights to take your car if the borrower never defaults on payments?
No. He/she simply has to pay the loan if you don't. Has no real right to the car even if you do miss payments. Has to go to court and show you have defaulted on the loan and has paid on it.
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.
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.
My exwife didn't pay for car loan tow company got car do i have to pay as a cosigner if car is gone?
As a former banker, I was often asked this type of question. A cosigner is a person who is legally obligated to the lender (usually a bank or a finance company) to repay a loan that may, or may not, have benefited the cosigner. By signing the loan documents, the cosigner assumes equal and full responsibility to repay the loan. Note the term 'equal' - most financial institutions make no distinction between who signs the contract first or second, both parties are equally responsible. Where the car is or who has possession of it makes no difference. The loan contract is between the borrowers (yes, the cosigner is a borrower) and the lender. Should the loan go in to default (payments late, missed, or completely in default), no matter what personal agreements the cosigner had with the primary borrower about who should make the payments or who has possession of the car, the financial institution will make attempts to collect from both parties and report that information to the credit bureaus where it will impact equally both the primary borrower's and cosigner's credit history, credit score, and affect each party's ability to obtain credit in the future.
If the cosigner of a home loan dies will the bank go after his estate for repayment?
My belief is that as long as the mortgage is paid on time by the borrower, there would be no reason to go after the cosigner estate.
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.
Can a person with a low credit and a cosigner with good credit get a car loan?
Yes, you can get a car loan. Note with a low credit score interest rates can range from 10% - 24% whether at a dealership or via my website. Visit my website to find out how you can qualify for an auto loan today. And go to the dealership with an approved loan and negotiate down the price of your dream car.
How difficult will be getting an auto loan without a cosigner and no credit history?
Depending on the car lot you go to they may carry there own contracts, the downfall is they dont carry high quality vehicles. As for new cars all you can do it try. You may have good chances
My car loan is paid in full how can I have the co signer removed from the title in the state of Ohio?
go to the bank or wher ever you got your loan have them sign off the title then go to the bmv and submit the title and it should come back with out the lien holder and cosigner on it
Will my car be taken if my cosigner dies?
Not as long as you make your payments on time. A co-signer guarantees that you will pay your loan off. If your co-signer dies and you don't make your payments the lender will repossess the car and go after you for any deficiencies.
