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What difference does co sign for auto loan make?

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Car Loan

if someone has bad credit, and someone with good credit co signs for them for a auto loan. Does the loan get approved on the co signers credit, or does the one with the bad credit still erect the loan. Will it still be subject to denial/high payment/high interest rate?

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    The interest rate will be based on the poor credit. The co-signer just guarantees the loan — in other words, the co-signer will have to pay if the other person doesn’t. The loan will show on both credit reports and impact the credit history of both.

    bdancer222 - Sep 22, 2012 | Reply


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