Having a cosigner for a car loan with a really good credit gets you the best interest if your credit is fair?
I’m financing a car, and my credit score is fair or good I think (my fico score is 672) so I’m getting my dad as a cosigner (his fico is 742) to get a better interest rate. If I do that should the interest rate be the average of the interest rates we will get as if we were applying on our own? I’ve never missed payments or anything, but my credit history is not old enough yet. I’m getting a 2008 Honda Civic and after my down payment I’ll borrow around 8k-9k, so my payments are in the range of 190 to 250 if I do it in 60 months, but I can pay off the car within a year. I only want to get a good reliable car that is good on gas plus I want to have a record of having a car financed.
|
Check the Situation That Best Applies to You... And Then Click the Button Below to See Your Credit Scores Free I want my free credit scores I want to apply for a credit card I want to protect my identity Just curious
(Click the button above to see your Experian, Equifax and Transunion credit scores absolutely free) |
August 2nd, 2010 at 11:48 am
Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool – carquotes.fateback.com
August 2nd, 2010 at 11:48 am
If you can easily payoff the car in a year, get a 1 or 2 year loan, not a 5 year loan.
August 2nd, 2010 at 11:48 am
You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments – buildcredit.ifastnet.com
August 2nd, 2010 at 11:48 am
Dear ,
For my last assignment, I had conduct some research on this topic and found this very helpful
http://yourloans.orgfree.com
Best Of Luck,
August 2nd, 2010 at 11:48 am
Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool – carinsurance.deep-ice.com