Nov
4
If a Mother and Son are on a car loan contract, do both get credit on their credit reports?
Filed Under Buying & Selling
rsquil1 asked:
Is the credit equal, or does it show one as primary and one as co-signed? Thanks.
CARLO
Is the credit equal, or does it show one as primary and one as co-signed? Thanks.
CARLO
Comments
4 Responses to “If a Mother and Son are on a car loan contract, do both get credit on their credit reports?”
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Yes ,he who is primary gets more credit.just make your payments on time to take care of your credit score
better pay that one off
The only person that receives the credit is the one that makes the payment.
i think both do. since if the primary person falls behind on payments, both primary and co-signers credit falls downhill, and then it’ll be up to either person to catch up on payments( since both are held liable for loan) and get credit for both persons back on track. so if primary misses a few payments both ur credit scores go down if neither pays, but if primary starts paying in full and catches up, primarys credit will start going up as well as co signers