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New Member
krajniken
Posts: 2
Registered: ‎03-19-2011

Best options??? I have excellent credit my wife who just moved here from Canada has no credit.

So here is the situation...

 

My fico score is close to 800. My wife who moved here from Canada has no credit history at all.

 

We are going to get her a new car next month and we were wondering what our best option would be for financing.

 

I could qualify for 0.9% with Honda for 60 months but I really want to help her establish some type of credit in the US so when we go to buy a house in the future we will both have a great credit score/history.

 

So would it be best to have her be the primary person on the loan and have me be a cosigner? I know our interest rate would skyrocket if we did that and we are trying to find the best interest rate we can.

 

Or has anyone tried capitalone auto finance? They seem to have a joint application where I could be the primary and she could be the co-applicant and maybe that would work out better for us?

 

Our goal is the lowest interest rate we can find and to make sure that this shows up on her credit report as well so we can get her established here in the US.

 

Thanks in advance for the responses!

 

 

Valued Contributor
usmc58555
Posts: 1,673
Registered: ‎02-18-2009

Re: Best options??? I have excellent credit my wife who just moved here from Canada has no credit.


krajniken wrote:

So here is the situation...

 

My fico score is close to 800. My wife who moved here from Canada has no credit history at all.

 

We are going to get her a new car next month and we were wondering what our best option would be for financing.

 

I could qualify for 0.9% with Honda for 60 months but I really want to help her establish some type of credit in the US so when we go to buy a house in the future we will both have a great credit score/history.

 

So would it be best to have her be the primary person on the loan and have me be a cosigner? I know our interest rate would skyrocket if we did that and we are trying to find the best interest rate we can. or you as the primary her a cosigner

 

Or has anyone tried capitalone auto finance? They seem to have a joint application where I could be the primary and she could be the co-applicant and maybe that would work out better for us? Your best bet will be your bank or at a dealership.

 

Our goal is the lowest interest rate we can find and to make sure that this shows up on her credit report as well so we can get her established here in the US.

 

Thanks in advance for the responses!

 

 


1- Make her an Authorized User on your Amex card, she will get much good credit that way. (assuming your card history is flawless)

 

2- hit thecredit vard section of the forums to understand more how AU status effects credit

 

3 You and her do the loan jointly you will not have any problems

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Mega Contributor
Creditaddict
Posts: 18,526
Registered: ‎10-23-2007

Re: Best options??? I have excellent credit my wife who just moved here from Canada has no credit.

I would be surprised if Honda still did not give you 0% with her as joint.

Fico Scores: EQ 639 Navy, TU 667 GE, EX 677 Prosper (06-27-14)
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