Auto Finance Terms

You are a first-time buyer who is excited to get into the business of car ownership. The exuberance, however, is slowly waning as it seems that no lender wants to take a chance on you since you have a limited credit history. A co-signer may be the remedy to your issue.

By definition, a co-signer is someone who agrees to take financial responsibility for the loan if you fail to make timely payments. Most creditors will approve you for funding if you have a co-buyer with a good credit score and a firm source of income. What is even better is a co-signer who owns a home and rental properties. Such established financial standing tells the creditor that the likelihood of the co-signer fulfilling the terms of the loan if you fall short is high.

Your excitement over buying a new car or truck should not wane just because you are a first-time purchaser. Stop by Economy Honda Superstore today to learn more about financing!



Categories: Finance