Car Dudes

For Car Fanatics

What is A Co-Signer?

There are a great deal of terms that you may not fully understand that have to do with purchasing a car. For those that are considering buying a car, it might be beneficial to learn some of these terms. The team at Bloomington Acura can help you understand all you need to know about buying a car.

For starters, one term that might come up is co-signer. Put quite simply, a co-signer is someone that agrees to put their name on the loan with you and therefore on the car as well. This can do a few things, for starters, it can help to lower the interest rate of your loan because it takes into account the amount of money you and the co-signer make together. It also helps to take some of the burden off of you if the co-signer is going to help pay. Lastly, if you cannot get a loan on your own, it might help you.