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Message
re: Who would you co-sign a car for
Posted on 2/12/26 at 6:37 pm to dyslexiateechur
Posted on 2/12/26 at 6:37 pm to dyslexiateechur
Not a damn soul. I’d make payments for a kid before I’d co-sign.
0
Posted on 2/12/26 at 6:41 pm to fallguy_1978
quote:
wouldn't do it for anyone.
Thanks Dad
Cut the yard on your own, you lazy ingrate.
Posted on 2/12/26 at 6:43 pm to dyslexiateechur
I co-signed way back when cars were a couple of thousand dollars new.
She was my trusted lab tech and definitely had a steady job. She had hit a deer and her used passalong car was totaled.
Then she found out that because she had been a nun she had no long term credit history and the dealerships didn't want her as a customer.
So I co-signed.
Everything went smoothly and she paid it off in three years.
No regrets.
She was my trusted lab tech and definitely had a steady job. She had hit a deer and her used passalong car was totaled.
Then she found out that because she had been a nun she had no long term credit history and the dealerships didn't want her as a customer.
So I co-signed.
Everything went smoothly and she paid it off in three years.
No regrets.
Posted on 2/12/26 at 6:45 pm to dyslexiateechur
No one
Not necessary
Your kids?
Not necessary. They've had credit cards in their name since they were 15ish. The oldest son's score was in the 790s when he turned 18.
Your partner?
No way in hell. There's a reason everything is in my name.
quote:
Your parents?
Not necessary
Your kids?
Not necessary. They've had credit cards in their name since they were 15ish. The oldest son's score was in the 790s when he turned 18.
Your partner?
No way in hell. There's a reason everything is in my name.
Posted on 2/13/26 at 8:42 am to TBoy
quote:
I never asked anyone to cosign anything for me.
When I bought my first vehicle myself, I applied for a car loan through Hibernia Bank.
Meeting with the loan officer, she's looking over my credit report, and says "I see you have a credit card with a $30k limit and a zero balance. You also have a mortgage that's been paid off. This is excellent credit you have."
I was 20. My only credit was a credit card with a $2k limit. I didn't tell the loan officer that. And I was approved with a great rate.
I'm a Jr., and somehow my dad's credit bureau got pulled up instead of mine. I've never heard of that happening, and I used to work in banking as a loan officer. But this was the mid 90s, so maybe things were different then.
Posted on 2/13/26 at 8:47 am to dyslexiateechur
I co-signed for my younger sister to get her first car. My parents were out of the country for work, so I agreed to help out. I told my sister if you miss one payment, the vehicle is mine, and she was never late with a payment.
Posted on 2/13/26 at 9:03 am to dyslexiateechur
quote:
Your parents?
Yes. They are good people and I owe them the world. I would do anything in my power to help them whenever I could. Same for my in laws.
quote:
Your kids?
No. frick em. They can get a ride or get a piece of shite car like I did.
quote:
Your partner?
No, I just buy my wife's cars outright.
quote:
trust no one?
There are quite a few people on this earth who I would risk everything I own for, but they all earned it.
Posted on 2/13/26 at 9:23 am to Mizz-SEC
quote:
No teenager needs a car with more than $4000-5000 since they'll probably get in an accident at some point.
You know the vehicle will need a running engine and a windshield right?
Posted on 2/13/26 at 9:34 am to Mid Iowa Tiger
quote:You should have seen them when I did the same at 40. Always paid cash for everything. A coworker consigned for me a loan so I can build credit, looking back that was so nice of her. Over 800 now as well.
he had a zero credit rating. When he was 19 he applied for a car loan and the bank was floored. They said it was like he didn’t exist to the ratings agency. He had never done anything with credit
Posted on 2/13/26 at 9:37 am to dyslexiateechur
Prob my parents. Kids cars will be paid cash
Posted on 2/13/26 at 9:38 am to dyslexiateechur
No one.
Posted on 2/13/26 at 10:42 am to dyslexiateechur
Absolutely No One. Not even my kids. However i am setting my kids up for success. I take small unsecure loans out as the cosigner for my kids and then I pay it back just to set them up with great credit scores. So when they do decide to make a vehicle or home purchase they have legit substance anchored to their credit score.
I take $3,000 unsecure loans and put it in the stock market and just make the monthly payments over 2-3 years. By time i pay it off the interest gained in the market offsets the interest of the loan. Normally a wash but even if its not, its building their credit score up. Win win.
But I'd never cosign on a major expense. Bad business.
I take $3,000 unsecure loans and put it in the stock market and just make the monthly payments over 2-3 years. By time i pay it off the interest gained in the market offsets the interest of the loan. Normally a wash but even if its not, its building their credit score up. Win win.
But I'd never cosign on a major expense. Bad business.
Posted on 2/13/26 at 11:19 am to dyslexiateechur
I used to sell cars and this one hood granmda co-signed for 4 different familiy members. shite was wild!
Posted on 2/13/26 at 11:33 am to Areddishfish
quote:
My dad did it for me on my first car. I made payments. I wouldn't have a problem doing that for my kids as long as they were too crazy.
My folks co-signed for me on my first two cars. I had the down payment and made the payments. We did something similar with our daughter. I bought her first car. Paid cash for her second car, and she paid us back...basically an interest free 3-year loan.
Posted on 2/13/26 at 11:43 am to dyslexiateechur
I did back in the early 80's for a long-time friend's purchase of a mini-truck.
Posted on 2/13/26 at 11:44 am to Long Ball Larry
quote:
I'll cosign for BabyTac to get a new Tundra
You think a high powered executive like him needs a cosigner?
Posted on 2/13/26 at 11:54 am to dyslexiateechur
My dad cosigned for me when I was in my twenties and had a good job. He knew me well enough to know that I would be responsible with payments. I paid off the car early.
I think my children are the only ones I would do that for, and only in a similar situation (good job and responsible behavior). Thankfully they're all in their thirties and have good credit.
When my son got his second car in his early twenties, he didn't have good credit yet. My husband offered to cosign for him, but he refused, saying he would take the high interest loan and pay it off quickly to establish his own credit, which he did.
My husband and I both have excellent credit, so we would never have to cosign for each other.
I think my children are the only ones I would do that for, and only in a similar situation (good job and responsible behavior). Thankfully they're all in their thirties and have good credit.
When my son got his second car in his early twenties, he didn't have good credit yet. My husband offered to cosign for him, but he refused, saying he would take the high interest loan and pay it off quickly to establish his own credit, which he did.
My husband and I both have excellent credit, so we would never have to cosign for each other.
Posted on 2/13/26 at 1:17 pm to dyslexiateechur
My youngest daughter. Co signed for her first two vehicles. She was money. Very responsible, she recently paid off the second one. No issues. I would have been a little reluctant with my other 2 kids
Posted on 2/13/26 at 1:25 pm to Mizz-SEC
quote:
No teenager needs a car with more than $4000-5000 since they'll probably get in an accident at some point.
Cash for Clunkers basically ruined this for teenagers (and everyone else)
Posted on 2/14/26 at 10:02 am to MorbidTheClown
quote:
you can't get shite for $5k. I'd rather have my kid drive have reliable transportation.
Of course you can.
One word: Toyota
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