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Posted in Auto Loans
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Question By
upto

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Co-signing will I be able to do that for anyone.
Some one wants me to co-sign for them to get a truck is my credit high enough to be able to do that. I know already if they do not pay I am stuck with the bill. So I am already leery about doing it.

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Don't do it

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Go with your gut feelings about co-singing for anyone. Nothing good is in it for you. Perhaps you can help this person with a cash gift to help that person qualify on his or her own with a larger down. If this person even misses one payment, that stain will remain on your credit for 7 long years. And going forward, make it a financial policy not to co-sign for ANYONE. (This doesn't mean applying jointly with a spouse)

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