Many married couples think that certain activities affect their credit score. I have seen this time and time again in which married couples are afraid to make certain financial moves because of a few misconceptions. Let’s go over a few of them.
This is very common question and the answer is…..Not at all! Since there are two applicants on one loan, the other applicant can apply to have another auto loan separately. The only problem that may present itself is the debt to income level. This means that the applicant must be able to afford both payments as that is how the bank determines the approval. In most cases, spouses usually co-sign for each other even if it is not needed.