Getting a loan co-signed, will this help MY credit at all?

[bkitty]

It's funny because before my BK I had absolutely no money, no job, just a mountain of debt. Now I have no debt, a good job...and can't do anything cause my credit is f**ked. *sigh*

So, I really want to buy a car, since I have no bills I can even afford to get a new one, HOWEVER, since my credit is horrible no one is going to give me a loan, or a decent loan.

My parents are willing to co-sign a loan for me and use their excellent credit to get me a car. I have no intention of wrecking their credit and they know that. But, I was wondering, if they could even co-sign a loan for me and still get the same good rates? I know they could qualify for 0% APRS and all that fun stuff...but I'm just wondering if having my name attached to it would delete those offers?

Also, if they did co-sign a loan for me would this show positively (when payments were made on time/car was paid off on MY credit), or just theirs?

[aces67]

It would show on your credit also but the rate may not be as low as what they could get on their own.

[sguerra923]

It's funny because before my BK I had absolutely no money, no job, just a mountain of debt. Now I have no debt, a good job...and can't do anything cause my credit is f**ked. *sigh*

So, I really want to buy a car, since I have no bills I can even afford to get a new one, HOWEVER, since my credit is horrible no one is going to give me a loan, or a decent loan.

My parents are willing to co-sign a loan for me and use their excellent credit to get me a car. I have no intention of wrecking their credit and they know that. But, I was wondering, if they could even co-sign a loan for me and still get the same good rates? I know they could qualify for 0% APRS and all that fun stuff...but I'm just wondering if having my name attached to it would delete those offers?

Also, if they did co-sign a loan for me would this show positively (when payments were made on time/car was paid off on MY credit), or just theirs?

I just recently purchased a car and had a co-signer and got a 8.5 interest rate. My plan is to refi it later with a credit union and to get a lower interest rate after being discharged for 2 years.. so one more year to go lol.. It's good cause it helps build my credit..