What Info Do We Collect from Cosigners for Nissan Financing?

Have you been having issues securing Nissan financing with competitive terms? You may need a cosigner to serve as a backup for you on your loan. This is all the info we’ll need from you and your cosigner when applying for a loan at Woodhouse Place Nissan.

Basic Contact Information

You’ll need to fill out a credit application to apply for auto financing. We’ll need to collect all of the following information from both you and your co-signer. We’ll start by collecting your basic contact info, as well as your date of birth and social security number.

Your Housing Info

We’ll also need to know your address, whether you rent or own, and how long you’ve lived at your residence; if you haven’t lived there long, we’ll need to know your previous address too. We also need to know your monthly rent or mortgage cost.

Your Employment Info

Next, we’ll discuss your occupation, employer, and how long you’ve been there. We will need to know your gross income as well.

Existing Debt and Expenses

Then, we’ll need to know your existing debt and income to determine your debt-to-income ratio. While it isn’t absolutely necessary, an ideal debt-to-income ratio is under 35 percent. Remember that we also consider your cosigner’s income, which can help improve your debt-to-income ratio.

Credit Score

Finally, we’ll pull your credit to determine your and your cosigner’s credit scores. If they have a positive score, it can seriously increase your chances of getting approved and help lower your interest rate too.

Buying a New Nissan Vehicle

Ready to start shopping? Visit our Omaha dealership to peruse our new Nissan vehicles and take a few test drives with our team. We’d love to help you get into your dream vehicle today!