Cosigning For Auto Loan

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It can be hard to qualify for a loan without a strong credit score and a steady income. If you’re not getting approved on your own, you might have more success with the help of a cosigner.

Common reasons a cosigner is needed are [1] the primary buyer has credit issues that are too recent to qualify on their own, [2] their income is not adequate for the amount of financing requested or [3] their overall credit profile doesn’t meet the lender’s guidelines.

A cosigner is someone who has good credit and/or perhaps a long-term job with good income and is either a family member, spouse or close personal friend. With a well-qualified cosigner, someone who would otherwise be turned down for an auto loan will often obtain a favorable approval. People often use a cosigner, even if they can get approved on their own, to qualify for better loan terms saving hundreds or even thousands of dollars in interest over the course of the loan.

It is important that the cosigner understands that they, too, are responsible for paying back the loan and that this loan will also show on their credit profile. This is why it is important to for the primary and the co-applicant to have a very honest and trusting relationship. If the primary purchaser stops making the payments it will be the responsibility of the cosigner to fulfill the obligation of the loan or they will see the same negative credit impacts as the primary buyer.

Dick Says Yes has helped thousands of buyers with their cosigned loans and can help set both the main buyer and the cosigner up for a successful agreement that can prove to be beneficial to both parties involved. Have more questions about buying a car with a cosigner? Please reach out to our team and we will assist you in a discrete and professional manner.

No matter what life throws your way, we can help!

It can be hard to qualify for a loan without a strong credit score and a steady income. If you’re not getting approved on your own, you might have more success with the help of a cosigner.

Common reasons a cosigner is needed are [1] the primary buyer has credit issues that are too recent to qualify on their own, [2] their income is not adequate for the amount of financing requested or [3] their overall credit profile doesn’t meet the lender’s guidelines.

A cosigner is someone who has good credit and/or perhaps a long-term job with good income and is either a family member, spouse or close personal friend. With a well-qualified cosigner, someone who would otherwise be turned down for an auto loan will often obtain a favorable approval. People often use a cosigner, even if they can get approved on their own, to qualify for better loan terms saving hundreds or even thousands of dollars in interest over the course of the loan.

It is important that the cosigner understands that they, too, are responsible for paying back the loan and that this loan will also show on their credit profile. This is why it is important to for the primary and the co-applicant to have a very honest and trusting relationship. If the primary purchaser stops making the payments it will be the responsibility of the cosigner to fulfill the obligation of the loan or they will see the same negative credit impacts as the primary buyer.

Dick Says Yes has helped thousands of buyers with their cosigned loans and can help set both the main buyer and the cosigner up for a successful agreement that can prove to be beneficial to both parties involved. Have more questions about buying a car with a cosigner? Please reach out to our team and we will assist you in a discrete and professional manner.

No matter what life throws your way, we can help!

Simple, fast, & secure auto financing…get answers!

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More Questions? Talk to a Financing Expert.

More Questions? Talk to

a Financing Expert.

We pride ourselves on going the extra mile…

And We do more than help you buy used cars with a cosigner… a lot more.