Im a co-signer on technically my own car. I dont know how that happened with my girl being the primary. But anyway, I use to live in Illinois and they didnt report because they said it was an illinois law or something. How do I find out if this is the same for Texas? I would like these payments to show on my reports. I am with Chrysler Financial.
Are co-signers reported on credit for auto loan? (texas)?
Auto loans should be reported on both signers credit the only thing that will show is either a %26quot;J%26quot; for joint or a %26quot;C%26quot; for co-sign under the lenders name on the left side of your report.
No one that looks at your credit will be able to tell who is the primary signer and who is the secondary signer.
I work for a Chrysler dealer and they should be reporting on both of you.
Are co-signers reported on credit for auto loan? (texas)?
usually co signers are reported in recent years
Are co-signers reported on credit for auto loan? (texas)?
im a finance manager of a large rv dealership. and yes co-signers are reported. in days long gone you could be a co-signer and in effect you were really a reference for the buyer. but today there is only joint credit as far as im aware and your credit scores are your references. so if you sign for another you are just as responsible for the purchase as the buyer. i cant tell you how many grandparents i get in who signed for a grand child and let the vechile go back and say but i just co-signed for them. dont do it unless you are willing to pay if primary buyer defaults!
Are co-signers reported on credit for auto loan? (texas)?
If you are joint on the loan (co-signer would be joint), it should be showing up on both credit reports as both are held responsible for the debt.
By the way, it is a really bad idea to co-sign for anyone you are not married to. If they don't pay on time, you get all those lates on your report and can't do anything about it. No matter how close you are to that friend, mixing finances can kill any friendship.
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