2007-11-24 14:18:08 · 6 answers · asked by Morghan 1 in Business & Finance ➔ Personal Finance
ok thanks for all of the answers! but new answerers, also we have already applied and i am suppose to be getting the car monday. but now my friend is rethinking the whole thing because she doesnt want to mess up her bankruptcy and after it has been discharged they are gonna help her get a car.
2007-11-24 18:07:50 · update #1
It depend on if the bankruptcy has been discharged. If the BK is not discharged then the lenders don't know your co-signer's BK. If this is the case, then it comes down to your and your co-signer's credit history. Either way it sounds like you are going to need a ton of money down to get a this car loan.
2007-11-24 14:33:15 · answer #1 · answered by Dopemane 3 · 0⤊ 0⤋
To co-sign you need good credit. No one is going to buy a loan like you are describing unless the bankruptcy is not on record yet. Even then, a lot of times the credit apps ask about this. Don't lie because it will be found out. These things are easy to check.
2007-11-24 14:26:51 · answer #2 · answered by Scooter 4 · 0⤊ 0⤋
No. Even without the bankruptcy, co-signing is always the wrong move. Save up and pay for the car in full.
2007-11-24 14:22:10 · answer #3 · answered by Debt Slayer 4 · 1⤊ 1⤋
No, the person has to have good credit. Besides why would they want to. They could get stuck with another bill they couldn't pay.
2007-11-24 14:25:27 · answer #4 · answered by insane one 6 · 0⤊ 0⤋
I doubt that many lenders would accept them as a cosigner. And since it's the same as taking out a loan, they really can't.
2007-11-24 14:21:34 · answer #5 · answered by Judy 7 · 0⤊ 0⤋
They can apply, but most likely they will be turned down.
2007-11-24 14:32:12 · answer #6 · answered by ruscito_mom 2 · 0⤊ 0⤋