a car are the chances for getting approved for a car great?
2006-09-13 13:18:41 · 3 answers · asked by Muriel L 1 in Business & Finance ➔ Credit
I had minimal credit, and my father with excellent credit co-signed for my car. I not only got approved but have an excellent interest rate and low payments.
The one thing to be aware of is the affect you might have on this person's credit. My father and I agreed before he co-signed that if I was ever unable to make a payment, I would let him know and he would make the payment then in return I would pay him.
So you'll just want to sit down and work this out with your co-signer if there's ever a chance that you might have a bit of financial trouble (and even if you don't think you will, over the term of a car note, you might).
2006-09-13 13:29:25 · answer #1 · answered by JenV 6 · 0⤊ 0⤋
If your credit history is poor and someone with great credit co-signs for you, yes, you do have a good chance of getting a car loan.
However, the person is responsible for paying the loan if you default for any reason.
2006-09-13 16:11:38 · answer #2 · answered by inpoetry1 3 · 0⤊ 0⤋
this question makes absolutedly no sense, if you are saying you have no credit, or what you have had, you haven't kept your end of the bargain, paying late, and you want a co-signer to buy a car, I pity the co-signer, because you are not ready to assume any credit.
2006-09-13 13:52:26 · answer #3 · answered by misselliet 4 · 0⤊ 0⤋