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However, there is a lower interest rate available for those with a good credit history. However, if an individual is in dire need of an automobile, then they can get a co-signer with a positive credit rating. A qualifying co-signer with a satisfactorily decent credit record agrees to take responsibility if the borrower does not pay on time, thereby decreasing the risk a lender is taking by providing the auto loan. One of the easiest ways to start is by getting a credit card. Applications of individuals who pay back their monthly bills in a timely manner are more easily approved by the lenders. It could take six to eight months to build a stable credit history, which can be frustrating.