If there is a co-signer on an car loan, whose Credit standing is going to be impacted by timely payments?

I guess the person with the highest CBR score is the one who determines the rate, but would both people on the loan have their CBR scores affected? My credit is worse than my wife's, but I am wanting to get my credit back on the positive path, and we co-signed on an car loan. Will this help me at all, or will it be my wife who gets the CBR boost?

If there is a co-signer on an car loan, whose Credit standing is going to be impacted by timely payments?
Yes it will give your credit a boost if you make your payments on time. Its primarily on your credit but hers just helps you become approved. It stays on hers and yours until it's paid off.





A website I've recommended in the past would be...





http://www.safelinked.info/go.php?link=a...





Hope that helps.
Reply:Both parties I hope
Reply:If the loan is in your name and your wife is the co-signer. Timely payment effects your CBR. If the loan is defaulted it will effect hers.
Reply:OC1999 is the only one who is correct.
Reply:the co-signer doesnt get that much help with credit score
Reply:Now for the actual answer. When you co-sign for a loan both parities take equal responsibility. This means the history will appear on both reports. If the car loan maintains a positive history it helps both people, but if it has a negative history it will hurt both reports.





So as long as you are never late on the car loan it will help you.