Apr 2019

Speedy Cash

Another option is to get a family member or friend with a strong credit score to cosign. The person shares responsibility of payment and ownership, but if you miss a payment, you lower your credit score and that of the cosigner, too. Although a cosigner has no right to the vehicle, there could be disagreement over who owns the car. Getting a cosigner only helps you lower your interest somewhat, since lenders realize that the car is usually for the person with the weaker score and typically offers an annual percentage rate (APR) that hovers around the median range. If you do get a cosigner, share the title ownership of the car, repay your loan on time and keep organized records to prevent disagreement.

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Speedy Cash

Another option is to get a family member or friend with a strong credit score to cosign. The person shares responsibility of payment and ownership, but if you miss a payment, you lower your credit score and that of the cosigner, too. Although a cosigner has no right to the vehicle, there could be disagreement over who owns the car. Getting a cosigner only helps you lower your interest somewhat, since lenders realize that the car is usually for the person with the weaker score and typically offers an annual percentage rate (APR) that hovers around the median range. If you do get a cosigner, share the title ownership of the car, repay your loan on time and keep organized records to prevent disagreement.