Can a cosigner help me get a car loan for a Honda?

I want to apply for a car loan, but my credit isn't great. Can getting a cosigner help me finance a Honda?

Answer
Your chances of getting a car loan for your Honda will increase greatly if you bring a cosigner into the picture, especially if you have:
  • Poor credit score
  • No or limited credit history
  • Lower income
When choosing a cosigner, make sure they have strong credit and good income. This person will become financially responsible for the car payment if you default or fail to pay for a month. If the person has a superb credit score, you may even get a better interest rate.
Family members or spouses are ideal choices for cosigners. Choosing a friend may cause a rift in your friendship if they become saddled with your debt.
Once you find a cosigner, don’t stop there. You should also shop around for the best car insurance rates with Jerry. Sign-up takes less than a minute, and you’ll be able to compare competitive quotes from up to 50 top insurance providers.
Eric Schad
Answered on Oct 28, 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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