My fiance is cosigning for me a car. He has excellent credit but my credit isn't all that great. My interest rate alone on the car will be 11.9% and the interest rate on his car loan is 7.5%. Is it possible that we have the 7.5% interest rate on the car that he is cosigning for me? Thanks!
With you both on there it will be lower but probably not as low as his depending on when he bought the car,changes in interest rates,changes income to debt ratio.
That鈥檚 completely up to the finance company. You have to remember that they are lending you money and they are taking a risk.
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