2007-02-28 07:41:47 · 12 answers · asked by Ryan 1 in Business & Finance ➔ Credit
If you cosign on an auto loan for someone, you DID get a loan for yourself. You just didn't get the car. Your not the first person to have more than one auto loan. Any lender asking for a cosigner is telling you they expect the 'borrower' to default. They are usually right.
2007-02-28 10:52:59 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
1
2016-09-27 19:22:23 · answer #2 · answered by Sachiko 3 · 0⤊ 0⤋
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RE If I cosign an auto loan for someone, could I still make an auto loan for myself?
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2014-09-13 20:37:41 · answer #3 · answered by ? 1 · 0⤊ 0⤋
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RE:If I cosign an auto loan for someone, could I still make an auto loan for myself?
2014-07-25 04:12:07 · answer #4 · answered by Anonymous · 1⤊ 0⤋
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2014-05-08 01:19:43 · answer #5 · answered by Anonymous · 0⤊ 0⤋
i think it depends on how much money you make. if you don't make enough money to cover the co-signed loan and your own auto loan the bank will say no.
2007-02-28 07:50:21 · answer #6 · answered by lidakamo 4 · 0⤊ 0⤋
It would just be based on income vs debts. If you make enough income to support both car payments (because thats how they view it) then yes, you can still get one.
2007-02-28 08:03:47 · answer #7 · answered by Anonymous · 0⤊ 0⤋
if you can handle both debts then yes. don't cosign for another person. cuz you could get stuck paying the debt.
2007-02-28 07:46:04 · answer #8 · answered by koifishlady 4 · 0⤊ 0⤋
It will show up on your credit report. If they don't pay, it will adversely effect your credit report. And if they don't pay, you will be responsible for the balance of the loan.
2007-02-28 07:49:09 · answer #9 · answered by mark my words 3 · 0⤊ 0⤋
If you make enough money, but most likely that will hurt your chances.♥
2007-02-28 07:44:34 · answer #10 · answered by ♥USMCwife♥ 5 · 0⤊ 0⤋