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(EMAILWIRE.COM, February 24, 2012 ) Ashville, NC -- There are two main ways someone with good credit can help someone else qualify for an auto loan. Though both options will get the applicant into a car, they can impact the life of the helper in two very distinct ways.
Those who co-sign for an auto-loan do so to help loved ones suffering from poor credit histories. However, what starts as a gesture of good will, can turn into a nightmare for the co-signer if the person who is actually with the car starts missing payments. If this possibility become a reality, the co-signer is held completely financially responsible for making the loan payments. Not only that, but the co-signer has no legal right to the vehicle for which he or she is paying.
The other way to help a friend of family member become a car owner is to become a joint applicant. By doing this, the helper is more than just financially responsible for making the payments, but has the added benefit of having a legal right to using the car, or, better yet, seizing it in the event that the other applicant stops making payments.
About NoCosignerCarLoans.com
NoCosignerCarLoans.com enables people to get an auto loan with no cosigner, even if they have bad credit.
No Cosigner Car Loans
PR Dept
9102086761
contact@nocosignercarloans.com 
Source: EmailWire.com
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