Should I consolidate two car loans, one of which I cosigned?
I have two car loans, one I got for myself and one I'm stuck with as a cosigner. Is it a good idea to consolidate these car loans?
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Answered on Apr 02, 2021
Probably not. The reason behind this is that you’re not actually the main borrower on your second loan; you’re a cosigner. If the other borrower is consistently making payments, there’s no reason to combine the loans.
If you’re concerned about interest rates, you should just refinance each loan separately. By doing so, you can get the best rate possible without consolidation.
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