Adding a co-signer can be a great way to improve your application for Alfa Romeo financing, although your co-signer should understand the downsides. Find out how our team at Helfman Alfa Romeo can help you through the process below.
What Is a Co-Signer?
If your application isn’t strong enough for financing, whether because of already existing debt, a lack of credit history, or income issues, you may be asked if you can add a co-signer. Your credit is then considered together, giving you a better chance at an offer. If your credit history is enough to be accepted, but with unfavorable terms, a co-signer may reduce the interest rate and other additional costs
What’s the Downside?
Before you ask a friend or family member to co-sign on a lease, make sure they understand the downsides. If you miss a payment, their credit history will be affected just like yours. The additional debt will also show up on other debt applications they submit, so it may be, for example, harder to finance a home.
What Else Can I Do?
If you’re not willing or able to co-sign a loan, there are other roads to owning a car. You can always ask a dealership if they would have approved you without a co-signer, even if they ask you to add one; if the answer is yes, you can still apply singly, although the terms won’t be as favorable. You can also focus on building your credit and reapply, especially if your credit history is out of date.
Apply for Alfa Romeo Financing at Helfman Alfa Romeo
Applying for financing at Helfman Alfa Romeo is quick and easy, with or without a co-signer. Take any car in our Houston Alfa Romeo showroom out for a spin, then talk to our team about financing today!
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