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If you bought two cars in your name one for your brother and his was repossessed how will it affect your credit?

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2015-07-16 19:18:20
2015-07-16 19:18:20

It will be just like if your car was repoed. Repo on your CR,ect. The lender will collect any balance due after its sold from YOU.

It's a repo on your credit, probably yours alone. This is referred to (buy lenders) as a straw purchase, if your brother's not a cosigner. People do this to get loans for friends and family who can't pass credit.

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