What would you like to do?

Do you need to have a steady income to be a cosigner?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

You need to be able to qualify for the loan. This almost always includes a disposable income sufficient to make the payments. You might qualify if you have no income, but have asset that are easily converted to cash, like stocks or cash-value life insurance, which the lender would accept as collateral.
Thanks for the feedback!

Does a cosigner need good credit?

  Answer     A cosigner is only needed because the primary doesn't have adequate credit rating/history for the needed loan.     Hence, the cosigner needs

What is a cosigner?

A cosigner is the person who agrees to pay off the full balance of the loan if the primary borrower fails to pay. A cosigner signs the loan documents and guarantees payment o

Does the primary need the cosigner to trade in a car?

Yes, the cosigner and primary signer must be present to sell or trade the vehicle as they are equal owners. Also, both parties must sign the odomoter disclosure statement and

Why do you need a cosigner?

  You will need a co-signer on a loan if the lender has determined that you do not have enough income or the credit rating necessary to make the purchase alone. It could a

Is collateral needed to cosign a loan?

Co-signing a loan may not specifically require collateral, but if the person for whom you co-sign defaults , anything you own becomes fair game. Don't co-sign for anything for

Do you need your cosigner to sign when you refinance?

If you need a cosigner they must sign because a co-signer is a person who accepts responsibility for repayment of a loan, credit card or other debt along with the original bor

Does a cosigner for a car loan need a job?

Generally, yes, unless they can prove they are independently wealthy. They need to qualify for the loan and prove they have the ability to make the payments if you don't.

Does a cosigner need to be on car insurance?

In most cases these days, when people think they are a Co-Signer, they are in fact a Co-Buyer. If you are a co-buyer then by default you are a co-owner. In the event of an acc