Question
If you have someone cosign for you an car loan, will you get a similar interest rate has the cosigner's loan?
My fiance is cosigning for me a car. He has excellent credit but my credit isn't all that great. My interest rate alone on the car will be 11.9% and the interest rate on his car loan is 7.5%. Is it possible that we have the 7.5% interest rate on the car that he is cosigning for me? Thanks.
3 weeks ago - 4 answers
Best Answer
Chosen by Asker
With you both on there it will be lower but probably not as low as his depending on when he bought the car,changes in interest rates,changes income to debt ratio. I've bookmarked this site to go back to next time I need a loan... www ... Good Luck.
by Lenora G
3 weeks ago
Asker's Rating: 
Other Answers
That depends on what the lender offers you. Most likely, you won't get the lowest interest rate possible.
by My Take on It- 3 weeks ago
I doubt that you'll get 7.5%, but you shouldn't get 12% either.
by Craig- 3 weeks ago
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.sinfree.net
by Phil- 3 weeks ago