What a Cosigner Needs for Hyundai Financing

March 16th, 2023 by

What a Cosigner Needs for Hyundai Financing

Are you interested in Hyundai financing and want to improve your odds of being approved with excellent terms? Frequently, a cosigner can be just the ticket to get you the competitive terms you’re looking for when applying at Woodhouse Hyundai of Omaha.

Cosigner Must-Haves

Your cosigner’s essential qualifications are a good credit score and solid credit history. When looking at a loan application, a lender considers both your and your cosigner’s credit, so a cosigner whose finances are too similar to yours won’t help much.

Naturally, you also need a person that you trust in your life that, in all honesty, is willing to go out on a limb for you. If you can no longer make your payments, a cosigner serves as a backup to you on a loan. So, it can be quite a gamble for them to be a consigner but a tremendous asset to you.

Information a Cosigner Needs

As we mentioned, we’ll collect information from you and your cosigner when applying for an auto loan. We verify this information to see what you can comfortably afford and how you’ll pay it back. This is the information we collect from both applicants:

  • Your name and contact information
  • Your date of birth and social security number
  • Your housing information (your address, mortgage/rent payment cost, and length of time you’ve lived there)
  • Your employment details (your occupation, employer, gross income, and length of time you’ve worked there)

Get Approved at Our Omaha Finance Center

Ready to get approved for auto financing? We encourage you and your cosigner to visit us at Woodhouse Hyundai of Omaha to apply for an auto loan today!

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