Is my credit score irrelevant if I have a cosigner with good credit?

Does my score even matter if I have a cosigner with great credit? My credit score is around 500, so I need a cosigner to get a car loan. My father agreed to cosign and he has an 800+ credit score.

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Eric Schad
Answered on Jul 13, 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.
“If you’re simply talking about approval, your credit score may not matter.
However, your credit score has a profound impact on your interest rate. Just because your father might be able to get a rate of 3% does not mean you will get the same results.
Regarding acceptance of your loan, you will probably be fine, but you’re likely going to have to pay more in interest as a result of your credit score.”
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