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re: Co-signing and credit scores
Posted on 1/28/10 at 2:49 pm to UnTamedTiger
Posted on 1/28/10 at 2:49 pm to UnTamedTiger
quote:
. Due to some CC issues in my past my credit score is still not exactly tier 1. (675) However, my wife has great credit and would more than likely qualify for the financing incentive that is currently being offered. Would putting myself on the loan as a co-signer or primary keep us from getting the incentive?
Why not just put the vehicle in her name?
Posted on 1/28/10 at 4:01 pm to Will Cover
I imagine he would like the opportunity to boost his credit rating by adding his name to the debt and getting the financial incentives offered to those w/ better ratings.
In my experience several years back I had my mother act as the primary cosigner on a secured bank loan, and I was informed that there is no difference between the primary signer and the cosigner. On my credit listings it makes no distinguishing remarks as to primary or secondary.
You are both liable for the same debt upon default.
Just speculating from my experience about 5 years ago.
In my experience several years back I had my mother act as the primary cosigner on a secured bank loan, and I was informed that there is no difference between the primary signer and the cosigner. On my credit listings it makes no distinguishing remarks as to primary or secondary.
You are both liable for the same debt upon default.
Just speculating from my experience about 5 years ago.
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