How will a cosigner effect my debt to credit ratio?


brians4138 asked:


I am in the market for a used auto loan but have been turned down from all the agencies I have tried due to having a large debt to credit ratio from my student loans. How much will a cosigner effect my debt to credit ratio? I make around $31,000 per year and have loans totaling nearly $80,000. How much will a cosigner have to make to help me out?

2 Responses to How will a cosigner effect my debt to credit ratio?
  1. golferwhoworks
    October 9, 2011 | 11:34 pm


    that all depends on their debt to income ratios as well.The more they earn and the less they owe is the main factor

  2. the kid
    October 12, 2011 | 4:12 am


    Your D/C ratio remains the same. They will look at the cosigner’s separately. Do everyone a favor and don’t use a cosigner. If you default on the debt, it’s on them. Given your massive ratio, getting another loan is a bad idea anyway, as evidenced by everyone not giving you one.

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