Marv,

I applied yesterday at a GM dealership. I came back as C tier, and my interest rate is 2 points higher than what it would be if I had A. This is causing my monthly payment to be about $40 higher a month. I really don't like that. My girlfriend will co-sign, she has over a 720. However, now the dealer is talking about making her primary, etc. etc. etc. I asked the dealer what he meant by that in terms of how it reports, but he does not know. I want this on my credit reports, not hers. I understand their inquiry will show up on hers, and I realize if I default it will hit her reports too...but the regular monthly reporting showing the outstanding loan should be on my report.

Is there anything I should know about making her primary, or myself?

If two people sign a loan document then that loan will normally report on both persons CRA files.

The credit reporting software that we use to report to the big 3 actually has up to 5-6 places for co-makers.

So theoretically a loan could have MULTIPLE guarantors and all guarantors should have this on their files.

Simply for the sake of a lower apr, the person with the highest score which usually equalls the better credit should IMO ALWAYS be the first applicant on the loan. The scoring system will score/rate the approval on the first applicants score for those systems that rate that way.

Normally when this happens, the loan is reported in the future with a 'J" status. That simply means another person signed the note. Without seeing the actual contract, it would be impossible to tell who signed first or second.

So whether my girlfriend is first or second doesn't really matter, it will report on her credit file regardless?

[quote]So whether my girlfriend is first or second doesn't really matter, It will matter for the sake of your APR