When applying for a loan.?

Question

I will soon be applying for a new car loan.
If my wife has better credit than I do should she also apply as a co-borrower? The reason I ask is because I work and my wife doesnt so would they even consider her if she doesnt have any income? Do you think maybe they would consider my income and hers as the same since were married even though she doesnt work?
I'm just thinking we might get a better interest rate by using her credit as a co-borrower since her credit is better than mine.

Answer 1

Tough question to answer without knowing either of your scores. It would be worth the 10 bucks to go to Experian or Equifax's website and getting your FICO scores. I am aware there is a special score for auto loans. Most loan apps ask for household income so your wife would be fine using her data. Co applying would not help if your score drags you down and the minus would be a higher interest rate and or a higher down.

Answer 2

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