loans?
jguerrero14 asked:
I got someone to cosign for my autoloan but will they be able to if they have a few loans already taken out?
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I got someone to cosign for my autoloan but will they be able to if they have a few loans already taken out?
Content supplied by Yahoo Answers
Category: Credit | Tags: Autoloan, Loans 3 comments »
July 4th, 2009 at 1:03 am
only if their credit allows it, if they are not capable of taking on your loan on top of what they’re already paying, then most banks wouldn’t allow it.
July 5th, 2009 at 4:50 am
It depends on their income. If their debt-to-income ratio is okay, then it’ll be fine. However, if the lender determines that their debt with your car loan is too high for their income, you’ll have problems getting the loan.
July 6th, 2009 at 3:42 am
Sure, as long as their credit is good.