Buying a new car post bk, question on cosigner....

[Danielle1981]

So after I filed last year I got a new to me hoopty. The car is horrible....everything that can go wrong with it has. I've spent probably about 5k fixing it in the last year....and at this point I'm thinking buying a new car is probably a better option than to keep dumping money into it.

My question is....if I have a cosigner, would that possibly drop my interest rate?

My credit scores right now are:

TU 587
EQ 636
EX 593

That's according to true credit. I know those scores can be off. I'm scared to even apply for anything since bankruptcy

[CindyLou]

What I was told by the car dealership when I was buying a car is that the only thing a co-signer can do is make up the difference in two things: 1. When you don't have enough income to make the payment, they can make up the difference (and they have to have fair to good credit) and 2. When you don't have any credit they can make up the difference of no credit (but either you or them will need to have the income to make the payment.)

What a co-signer can never do is this: Make up for BAD CREDIT. You could however be an joint account holder with another person and and use them as the primary and in that case they would use their credit as the primary. But they will never use a co-signer as the primary credit. Hope this makes sense.

[BassBoy]

I agree with cindy. On the other hand, your scores look good enough that you could probably acquire a vehicle and financing all on your own. Have you tried this?