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Posted in Auto Loans
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Question By
rainmirron15

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Can I still be approved for an auto loan if my cosigner has a lower credit score than mine?
Well, I want to get an auto loan, my TU score being 667, but I need a cosigner because I have only been working for a week (I make 2340/mo). And my job doesn't have any bus stops what-so-ever. So I'm in dyer need of a car.

I have only had credit for like a year and 7 months.

My grandfather is my best bet for credit history, seeing that he has owned a home, cars, and has been alive for 78 years. But, his credit score is in the 500s. Will he still be acceptable for a loan?

Thanks.

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A cosigner has to be able to show that they have the means to pay the loan should you default.  It doesn't sound as if your grandfather would be able to do so.  Your banker may be able to give you some options.

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