If i have a cosigner for a car does that build up my credit or give me credit?

Question

If i have a cosigner for a car does that build up my credit or give me credit?

Answer 1

No.  It just enables you to get the loan.  You have to pay it back on time in order to build your credit history.

Answer 2

Obviously no one here does F&I for any car dealerships.

A co-signer will only help some one with limited or no credit.

Both individuals are on the hook.

If payments are late it hurts both individuals credit likewise if payments are made on time it helps both individuals.

Answer 3

Yes

Answer 4

No, the co-signer may get you approved for a loan but the interest will be based on the lower credit.  The loan will appear on both credit files.  If the loan is paid on time, it will look good on both credit files.  If the loan is paid late or defaulted on, it will look bad on both credit files.

Answer 5

Yes it will help you build credit/give credit after you pay in a timely manner on this account and all other credit transaction.  Pay on time, be credit wise.