What's an acceptable credit score for my cosigner on a car loan?
"What credit score does a cosigner need to have in order to help me get approved for a car loan?
I have no credit history but my credit union told me they'd approve my loan with a cosigner with decent credit."
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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 want to get approved for a new car loan, chances are your cosigner will need average credit, which is typically around 660 or higher.
This won’t get you a good car loan rate, but it might grant you approval.
Call your lender and ask them what is an acceptable credit score and how to get the best rate.
Then, find a trusted cosigner and apply for your loan.”
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