What is a cosigner and do I need one?

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What is a cosigner and do I need one?

January 17, 2024

Tips and Tricks Tuesday!!!

If you are looking to lease a car but your credit score isn’t the best, consider getting someone that has good credit (family member, friend) to co-sign with you. Having a co-signer could considerably lower your rate and get you a better deal!

What is a Cosigner?
A cosigner lends their good credit to the primary signer on a car loan, guaranteeing the lender or creditor that they’ll pay if the borrower doesn’t. The cosigner guarantees the debt and can be legally responsible for making car payments, plus late fees or collection charges if the borrower defaults on the loan.