582 Score and my Wife has 710 will her Cosigning help...?

[Turboba6]

As the Title says, I have a Bankruptcy, and my Score is a 582, now my Wife has a 710+ she wants to CoSign, HOWEVER,

it is MY Income that is needed, will her cosigning Help my Interest Rate???

[Anonymous]

I'm pretty sure it does help your interest rate, but not to the extent that youd like it to.

Your credit score will traditionally drag it down whatever rate you'd qualify for. I"ve had several co-signers on loans with a similar credit score to yours and mine was always what made the terms of the loan awful, but it was beneficial for me to be on it, to have something reporting postively for me.

[Turboba6]

How about if I put it Soley in her name??  She Already Has One Car in her name, would that matter???

[Anonymous]

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@Turboba6 wrote:

How about if I put it Soley in her name??  She Already Has One Car in her name, would that matter???

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Some people can get loans for 2 cars in their name along but it depends on their overall credit file and income.  And you already stated your income was needed so putting two in her name alone sounds like it's going to be difficult to do.

[Cellice]

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@Turboba6 wrote:

How about if I put it Soley in her name??  She Already Has One Car in her name, would that matter???

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The dealership can run both scenarios for you.

[Turboba6]

Mmm...ok, Thanks, I'll do that....!!