Should i be co-applicant on a saloon loan next to my cousin? my cousin has a really fruitless credit score and he can`t get

my cousin has a really fruitless credit score and he can`t get hold of a loan for a car. he asked me to be a co-applicant . i want to construct sure im not making mistake and not screwing my credit or myself. Don't do it. Never co-sign for anyone, unless that's your spouse. That is a big mistake, one time my mom be making me co-sign for a house and I went on my research instead of only just doing it. A broker told me, when you co-sign for someone, remember that means it's you..you own the loan. If something ever happen your it, you will be paying. Co-signer/Co-applicant/Co-borrower is almost the same as mortal the one getting the loan, except you are the back-up person. Again don't do it. If your cousin have a really bad credit, what make you think your cousin won't do alike to your credit? Just because your cousin is your family does not propose you have to do it, or consistency bad if you don't. Think of yourself first, if it works out for you..later that's fine, but if it don't...don't do it. Goodluck

If he has doomed to failure credit it is for a reason. I would not do it because no mater what style a promises he makes to you history have a bad opening of repeating itself. If he misses just one pocket money you can kiss your good credit apposite bye. I would recommend to him to save up and buy a used saloon and work on getting his credit in charge so he can qualify him self. There are also some dealers that enjoy programs for people beside bad or no credit. Suzuki usually does. It may not be the motor he was wanting, but its a coup�� he can get on his own. My suggestion is trying to obsord as much information as you can up to that time making up your mind,here is a good one. http://car-loan.free-deal.info/free-appr...

First rule in keeping your credit within good shape 'DON'T CO-SIGN!

All he have to do is miss one payment, next your credit starts down hill. Consider this, is he worth it and is your credit historic to you?

Unless you have plenty cash on paw to pay stale the note within full if he defaults consequently I would say NO. Just spend a week watching Judge Judy, Joe Brown, and adjectives the others and see how many cases involve relatives stiffing respectively other when they co-sign for them.

Hope this answers your question.

One word: NO!

If your cousin stops making payments.these behind time payments will spill over onto your credit report too...If your cousin defaults on the loan or the coup�� gets repossessed.they'll come looking to you to compensate the remaining balance.

It can really retrieve you some money to just draw from an auto loan estimate on the web to see what todays rates are. You might be totally pleased. Also if your credit is not good, plentifully of them are more able to serve you.

What I usually tell friends is that an internet quote at http://auto.lowratetoday.com is worthwhile.

Answers: It will do nought but ruin your credit and relationship. I would advise letting your cousin know that you in recent times cannot do it because there are so frequent risks associated with doing so. Also simply from what they tell you, they own bad credit so why would you want to minister to someone who cannot help themselves? I also attain the feeling the motor is more than they can probably afford or is brand new and something they really do not requirement...if so.more of a reason to voice "NO"

Don't do it.
He have a history of not paying his bills or not paying them on a timely basis. If he default on the car loan it's YOUR responsibility.

HHHHEEEELLLLLLL NOOOO!

Getting that loan will moderate your credit score and consequently if he can't pay for it, later you can join him contained by the quest for getting a cousin to cosign for a car loan because you enjoy bad credit.

I wouldn't even do this for my brother if he asked.

You are asking for big trouble

Dennis G
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