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Anyone know anything about buying a car and co-signers?

I have a car, and needed a co-signer, as I had only student loans on my credit, and that's not considered credit? Anyways.

So my loan has a co-signer, I want to trade it in, so I need the co-signer there with me again? Because she lives in Cali and I am in NY.

Answer Question

Asked by Anonymous at 10:52 AM on Aug. 13, 2010 in Money & Work

Answers (4)
  • Don't buy more car than you can afford. Buy a beater for whatever cash you have, and save up for a better car next year (your insurance will be less, too)

    Answer by rkoloms at 10:56 AM on Aug. 13, 2010

  • You shouldn't need the co-signer with you when you trade in the car, unless she is actually on the title to the car.

    Answer by Scuba at 10:58 AM on Aug. 13, 2010

  • The only reason you would the co signer for the car you want to trade in is to sign the title....other than that, they can check your credit and see if you will need another co signer on the new may be able to get it on your own this time since you have the current car on your credit too now.

    Answer by fallnangel93 at 11:02 AM on Aug. 13, 2010

  • Not sure if you it's required that you have a co-signer or not when doing a trade in, but if you do need a co-signer they will have to have excellant credit. Banks are sticklers for that nowadays.

    Answer by HotMama330 at 1:19 PM on Aug. 13, 2010

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