0
Should you cosign a car loan for your boyfriend if you recently took on a car loan yourself?
Wiki User
∙ 17y ago
Here's the easy answer. NEVER, EVER, EVER co-sign a loan, no matter who the person is, no matter what good intentions you have. If your boyfriend can't get the loan on his own, there's a reason, and it's probably his credit. Nothing against your relationship, but a boyfriend-girlfriend status isn't nearly solid enough to merit a long-term loan for a substantial amount of money. Small claims courts are jammed with lawsuits stemming from co-signing and debts owed. Not to mention your credit could be adversely affected for seven years if the loan goes bad. Tell your boyfriend you love him and you support him and can't co-sign a loan for him.
Wiki User
∙ 17y ago
Add your answer:
Earn +20 pts
If you cosign a student loan will you still be eligible for a student loan for yourself?
YES
What is the cosign of pi?
The cosign of pi is -1
How many time can you cosign a car?
how many times can someone cosign a car
How long should a cosigner stay on the lease if they cosign for an apartment?
I cosigned for my daughter five years ago on and apartment. Mu daughter is self employed. Her boyfriend has now moved in and wants to take responsibility for the rent. Land lord will not take me off the lease. What can I do?
Can you cosign on an auto loan if you financed a car recently?
Yes, as long as the person you are co-signing for has an income. The rule is one income one loan two incomes two loans.
Can your boyfriend cosign for you even though he does not have a job or collateral but he's had good credit for 3 years?
NO. The lender will want to be certain that the co-signer is solvent. Not having a job would not be acceptable.
Cosign lease extension?
To cosign a lease extension means to become legally responsible for the lease agreement alongside the primary tenant. This includes agreeing to uphold all terms and obligations of the extended lease period as a form of guarantee for the landlord in case the primary tenant is unable to fulfill their responsibilities. It's important to understand the implications and commitments involved before agreeing to cosign a lease extension.
Do you have to be a relative to cosign?
no.my father cosigned for me,but the bank told me that anybody could cosign..good luck to you.
Can your husband cosign on a car loan with a suspended license?
ok Should not be a problem. A car loan is about credit, not driving.
When might two people need to cosign an agreement?
Two people would need to cosign an agreement when for example, parents need to cosign the loan application for their child or to help a friend in need.
What is the cosign of 20?
about 0.4080820618
How does cosigning for an auto loan affect your ability to get your own auto loan?
Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
