Loans…..?
17
Apr
I got someone to cosign for my autoloan but will they be able to if they have a few loans already taken out?
Tags: loans
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17 April 2009 at 4:31 pm
3 comments
Answers
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2010-03-11 16:02
17 Apr 09 4:31 pm
only if their credit allows it, if they are not capable of taking on your loan on top of what they’re already paying, then most banks wouldn’t allow it.
17 Apr 09 4:31 pm
Sure, as long as their credit is good.
17 Apr 09 4:31 pm
It depends on their income. If their debt-to-income ratio is okay, then it’ll be fine. However, if the lender determines that their debt with your car loan is too high for their income, you’ll have problems getting the loan.