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Can my cosigner live out of state?
I recently moved out of state to go to grad school. I need a car to get to my internship. I have no credit and no income, but my dad said he'd cosign for me. Can my cosigner live out of state?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Yes, the cosigner of your
car loan
can live out of state! As long as your dad is creditworthy and qualifies to cosign, where he lives is irrelevant.The only slight caveat is that some lenders may require him to sign the loan in person, but this isn’t always the case. The good news is that you can take this as a chance to hang out with your pops! It’s a win-win.
If you’re approved for the loan, don’t forget about car insurance. The lender will require full coverage, which can be pricey—so prepare for that! Use the
Jerry
app to compare rates from dozens of providers to get the best deal.View full answer
- Gregory R.
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