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The Lot Blog

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angle-left Do You Need a Cosigner for Vehicle Financing?

Sometimes “Yes,” sometimes “No.”

Good credit borrowers are more likely to get approved for financing without a cosigner. But, that doesn’t mean having poor credit requires that you do. If you have bad credit, or simply have no credit established, there are options available for you to receive credit approval without a cosigner. For example, dealers on the Credit Acceptance program can offer their credit-challenged customers auto financing without a cosigner.

While traditional finance companies might suggest that bad credit or no credit borrowers get a cosigner (someone who takes responsibility for any debt a borrower cannot pay), subprime finance companies such as Credit Acceptance permit our nationwide network of enrolled dealers to allow you the option of receiving fast and easy credit approval without a cosigner.

Many finance companies may tell you that you need a cosigner in one or more of the following scenarios:

  • Have a poor credit history (bad credit or no credit).

  • Meet the minimum income requirements but your debt-to-income ratio is too high.

  • Are self-employed.

  • Changed jobs recently or have a variable income.


However, Credit Acceptance, a finance company specializing in subprime lending, has a network of dealers nationwide who can offer subprime lending to car buyers with bad credit or no credit established, providing opportunities to finance a vehicle without a cosigner.

Getting approved for auto financing without a cosigner alleviates the burden of having another individual assist you with your debt, which can sometimes lead to strained relationships. By getting financed through companies like Credit Acceptance, you can have complete independence as well as an opportunity to improve your credit score by making on-time payments.

All you have to do is fill out this short form on our website and a nearby dealer enrolled on the Credit Acceptance program will help you get started on your credit approval.