How To Get A Car Loan With Bad Credit
How do you get a car loan with bad credit and no one to co-sign?
I ask because a friend of mine (with bad credit) asked me (with good credit) to co-sign a car loan for her. My answer is severely sliding towards no. I really want to help her out but everywhere I read says NO! DON’T ! not to mention I’m scared to death of her not being able to pay. So here I am looking for good and solid advice to give her. Also any tips to help build her credit would be appreciated too. Thanks!
I ask because a friend of mine (with bad credit) asked me (with good credit) to co-sign a car loan for her. My answer is severely sliding towards no. I really want to help her out but everywhere I read says NO! DON’T ! not to mention I’m scared to death of her not being able to pay. So here I am looking for good and solid advice to give her. Also any tips to help build her credit would be appreciated too. Thanks! and PLEASE do not reply if you’re looking for business.
With the current loan situation (houses and cars) right now, it may be very difficult for her to get a loan. And if she can find someone to finance it, she will probably have to pay a high interest rate.
My recommendation would be to look into Capital One auto loans. I had a high debt-to-income ratio (but with good credit) and they were the only ones who could give me the financing.
I agree that you should NOT co-sign for her.