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

krajniken · ‎03-19-2011

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!

usmc58555 · ‎02-18-2009

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

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,

Creditaddict · ‎10-23-2007

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

~Addicts NEW Wallet: (AU)
Navy Flagship Visa, American Express Blue Cash Preferred, American Express Costco, Macy's American Express
~Cards in My name kept Active:
3 Target Cards, Cap1, Best Buy MC, Kays, Von Maur, FNBO Secured
~Cards in Holding AU or Joint: 2 Discover it, Chase Freedom, Bank of America, Navy Federal Cash, Wells Business Credit Card, USAirways Business Card, AA Business Card, Best Buy Store, SAKS, Bloomingdales... I'm sure I'm forgetting something in my car!

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

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

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