can a car dealership tell u u cant have a co signer on a car that u know u will need a co signer for but they will not let the co signer be on the application
2007-12-03 12:35:19 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
It's not the dealership's job to tell you whether you can have a co signer or not. That's the lender's job. If they are telling you this then they are probably up to something.
2007-12-03 13:30:31 · answer #1 · answered by jdhs 4 · 0⤊ 0⤋
In this case the dealership is acting as a lender (even thought they are marking up a rate that they are getting from another lender) and yes, they can stipulate the terms of a loan to their benefit.
You could try getting a loan through a bank, credit union or even State Farm Insurance but if the dealer wants to say that you can't have a co-signer it is because they want to charge you a higher interest rate than you would get with a co-signer.
2007-12-03 12:47:08 · answer #2 · answered by Miss Motor Mouth 4 · 1⤊ 0⤋
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2016-09-26 07:48:48 · answer #3 · answered by Sadie 3 · 0⤊ 0⤋
When two ppl jointly sign on a car, they own it 50/50. Who the primary or secondary is does not matter to the lender. They want their money from either and will drag one of not both of them to court to get it. This is why you do not co-sign for anyone who is not an immediate family member (brother-sister-mother, etc...) You dad has completely screwed himself over big time. All he can do is get a good lawyer and drag this b*+ch to court to repay everything she didn't. If I were in his position, I would have no mercy on her. I would sue her for everything she has and will have in the future. I would also sue her for all legal expenses. Yes in the short term this battle will cost him, but if successful, he can get it all back while she declares complete bankruptcy. As I also see it, she failed to uphold her end of the agreement. If there were enough family members present to testify she agreed to pay her part of this loan, then written agreements or not, she will loose. However, this will all have to come out in court. If you file a law suit where the loan was taken out and she fails to show up in court per subpoena, she can be arrested and held in Ohio jail to await extradition. Provided it's an arrest warrant that requires a hold. He can also garnish wages if the courts will approve it. And sometimes any tax refunds can be confiscated as well. I know, what a headache this is. Again, that is why we don't co-sign. G'luck!
2016-04-07 06:51:22 · answer #4 · answered by Beverly 4 · 0⤊ 0⤋
My guess is that the co-signer's credit history is bad. The dealer knows that he won't be able to get the loan approved. You should find another co-signer with a better credit score.
2007-12-03 14:27:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋
if the financing is to be made through the dealership and both of your credit ratings are suspect then yes. But I don't know why they wouldn't want to sell you a car if the financing is through your own bank or lender
2007-12-03 12:46:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋
That would make no sense on their part. The more people cosign the loan, the more people they can go after if you can't pay up.
2007-12-03 12:47:35 · answer #7 · answered by Kasey C 7 · 0⤊ 0⤋