Go Back To Search Results Question Can we get two car loans with both our names on them? My fiance and I both want to get new (used) cars. We each have a car loan right now in our own name. But here is the problem, I quit my job 6 months ago and started school full time. I get grant money but cannot use it as a base for repayment. He has a great job but a so-so credit score.(low 600) My credit is better (low 700) Can we co-sign on two loans together? We will each spend about 10-13k. By amanda l Posted on 04/28/10 Total Answers 2 Answers- Sure but as you have no income, your credit score will not help. Answer by : MadMan On Date 2010-04-28 17:37:38 Maybe. The interest rate will be based on your fiance's lower rate. Since you both are still paying the loans on your existing cars, perhaps you should put off one or both of those new cars till you complete school and have a job. In any case, it is a very bad idea to co-sign any loan with someone you are not legally married to. If you break up (and it often happens), you are stuck with the loan for his car on your credit. If he pays late, it hurts your credit. If he defaults, the lender comes after you. The loan counts against your debt to income ratio, even if he makes all the payments on time, and could keep you from getting a new car or house on down the road. And even if none of that bites you, there's always the possibility of being sued if the car is in an accident, just because your name is on the title. Answer by : bdancer222 On Date 2010-04-28 19:29:10   Go Back To Search Results