Good credit Primary + Bad credit Co-signer. Possible?

LocarbHotrod asked:


Hey everyone. I have Good credit, and I am planning on getting an auto loan soon. I want to have my mother whose credit is so-so co-sign. The reason for this is to have her name on the title of the car so I can get insurance in her name. Will this affect the interest rate etc. etc. Some people are saying that if the Title is in my name, the insurance also has to be in my name. Then some are saying that they got insurance in someone elses name even though its there name on the Title and bank loan… Sorry for all the extra details :) I should say that I live in the state of Michigan. Also she has a Pontiac G6 lease in her name, but she got denied for an $18,000 auto loan recently. I assumed she has bad credit, I’m now questioning that assumption.

Luis
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One thought on “Good credit Primary + Bad credit Co-signer. Possible?”

  1. IF YOU HAVE GOOD CREDIT THEN A CO-SIGNER IS NOT NECESSARY. WHY NOT JUST PUT HER NAME ON THE PAPERWORK AS A BUYER ALSO? IT WOULD BE AS IF BOTH OF YOU WOULD BE PURCHASING THE CAR. YOUR INTEREST RATE MAY BE SLIGHTLY HIGHER IF BOTH OF YOU ENTER IN ON A CONTRACT.

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