Can a cosigner have good income but bad credit for a car loan?

Can a cosigner help me get approved on a car loan if they have good income but poor credit? I want to get a car loan but I need a cosigner. The only person willing to do so is my mother. While she makes great income as a nurse, her credit score is poor.

Answer
“It all depends on the lender.
Typically, they’re only worried about the cosigner having good credit. Because you’re the main borroweron the loan, you will be primarily responsible for paying monthly on the loan.
Someone with good income and bad credit can still help you get approval. Just don’t be shocked if the interest rate is higher for this particular car loan.”
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Eric Schad
Answered on Jul 12, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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