Littleroc is correct,
You can't afford it. Moreover if you walked into the bank and used the tone and inflection of voice that we read from your post... of COURSE they're going to deny you.
I need a loan to buy a car . I have appied for a loan at my own bank and i was denied !!! I cant even get a credit card . . . .I was thinking that if someone co-signed on my loan i could get the money i need ??? Would it work i need to knkow !?!?!? DOes the person co-siigning need really realy good credit ??? Is there some other way that i could get this car ASAP !!!
You sound desperate! My friend that is not going to EVER get you anything in life. It's not going to get you loans... it's not going to get you dates... and it isn't going to get you a decent paying job either.
The first thing I suggest is that you calm waaay down. Secondly... take a look at your wants vs. needs. You may need "a" car... but you do not need "this" car. I'm certain that if you have income that you can find a way to save up and buy a "cash" car that you really "need".
To answer your question... YES.. if you got a co-signer they MUST have good credit. The bank knows that statistically... those who they deem credit-risks and need a co-signer, will eventually default on the loan. The bank needs someone to go after, so they require a co-signer who becomes responsible for it should you fail to pay your bill.
Unfortunately I know this from first hand experience. I foolishly co-signed a loan for someone in the amount of $2500.00.. and guess what? He didn't even make the FIRST PAYMENT! Right after he got what he wanted from me.. he avoided me because he had NO intentions of paying back the money... so I got stuck with it. That's a $2500.00 lesson I learned the hard way. I'll never see that money again.
So I'd advise you NOT to go looking for a co-signer. It will change your relationships with whomever does it for you, and not in a good way.
I honestly can say that I've never heard of anyone benefiting from having co-signed a loan for someone else. Don't do that to your friends or your family.
I know this probably isn't what you want to hear... but if I've said anything untrue I'm sure someone will correct me.