What are the benefits of having someone cosign your loan?

loki7714: What are the benefits of having someone cosign your loan?
I’m getting a small auto loan (1500-2000) for a used car in a few weeks and my uncle has agreed to cosign the loan for me. What are some of the benefits of having him cosign the loan besides a better chance of actually getting the loan?
I already have 2.5k saved up.

Answers and Views:

Answer by Help Is Here!
He won’t get a car loan for a car that is only 2k. Sounds like a personal loan.

The benefit, I guess is that if you decide to sink the ship, you won’t be alone, as you will tank his credit too.

Answer by duff16oz
You should get a decent % rate, don’t forget to insure the care! Good luck!