they keep saying i need a cosighner
2007-03-25 10:02:00 · 4 answers · asked by bessie g 1 in Cars & Transportation ➔ Buying & Selling
See if a parent or a sibling or a friend will co-sign for you...
2007-03-25 10:12:42 · answer #1 · answered by Gman 4 · 0⤊ 1⤋
So, is the question, how do you get around having to have a co-signer, or do you need to know, what a co-signer is? Well it sounds like you have litte, or poor credit, or don't have enough money coming in for the dealer to comfortably finance you. If they say you need the co-signer, you will find it will be a every lot. They want someone else to sign the contract with you, someone who will be responsible for the payments and interest, if you fail to do so. This person/s would also need to have good credit rating, and the leeway in their budget to be allowed a loan, as they would actually be taking out a loan. You will likely pay a very high interest rate, if you go to a small used car dealer, and they finance you. You'd probably be in the 30%interest category, that is crazy to pay that much interest. I'd be walking before I'd sign one of those loans. Pull a credit report on yourself, see what is causing you the problem, then make a plan to correct it within a certain amount of time. When that time passes, then apply for a loan, through a credit union, or some other lender. Good luck.
2007-03-25 17:42:29 · answer #2 · answered by fisherwoman 6 · 0⤊ 0⤋
get a KIA they finance anyone if you have a job they'll put you in a used RIO their couldn't give them any two years ago. worth a shot.
First you have to get in touch with credit bureau and have them remove all those inquiries
2007-03-25 17:58:52 · answer #3 · answered by flaltajr 3 · 0⤊ 0⤋
if that's what they say...what more answers are you looking for? it's harder to get a car loan than a home loan...so start clearing up your credit.
2007-03-25 17:09:46 · answer #4 · answered by Melissa T 3 · 0⤊ 0⤋