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Posted in Auto Loans
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vj705

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I have an auto loan can I get another on what are my options
I have a good credit score. I am financing a 2013 Charger. I am not making payments, but the loan is entirely in my name. I need another car that I would like to finance, a 2014. The payments for the Charger are on time and I have paid almost 2 years. My score is good and I have a nice paying job. What are my options to get approved for another car loan? I have a person, but they have bad credit. We were thinking get the car in his name and me as a co-signer. Please let me know what are my options thanks!!

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If your score is good, then it should not be a problem getting a second car loan.

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Do Not Co-sign!!!

If someone cannot qualify for a loan on their own, do not co-sign!!  Unless you have unlimited funds, can take a negative (their not paying for several months) and you are willing to pay for the vehicle even though they might be keeping it.  Co-signing is a bad idea.

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