Ever cosigned a loan for somebody?

[Ninjaz In Paris]

My sister wants me to cosign a car loan for her so she won't have to pay an astronomical interest rate.

Her credit is and mine is just , but if she gets the car loan w/o a cosigner then her note will be more than she can afford (even though the car isn't that expensive...just due to the interest rate). I told her I'd think about it but I really don't think I want to brehs...leaving heavily toward no.

I mean I try to be a supportive big bro and all but I don't really want to put my credit on the line like that...basically if she's late on payments or something happens, either I gotta pay or my shyt takes a hit. And I might want to buy my first house in a few years. Not that my credit is all that, it's pretty average. Now, granted, I don't think she'd intentionally do something to hurt my score or anything but you never know what might happen, people get laid off all the time.

Anybody here ever cosigned a loan for anybody (s/o, family, friend, etc.)? And if so, how did it work out? Do you regret it? Would you do it again? You ever declined to do so for somebody?

 

[andre patton]

Good credit is too hard to achieve and maintain nowadays. Its your sister, tho. If it were me I would give her the following options

1. I'll buy the car in my name, up to like $8,000, and she can make the payments. If she misses 2 payments I'm going to take the car back and sell it. I'll transfer the title into her name after she pays it off.

2. If she has to have the car in her name, I'll loan her $1000 so she can make a bigger down payment, which would make both the interest rate and the monthly payment on the car much more affordable. She can pay me back my little loan in installments or whatever, but in case she fukks up it wont be the end of the world.

I cant understand how anyone has the nerve to ask another person to co sign a fukkin car for them.

 

[Jesus]

I had an aunt/uncle cosign an apartment for me, and I got evicted... shyt happened in 2007 IIRC and it really fukked them up. I didn't do the shyt intentionally, but put it like this... there's a reason your sister can't get this loan with a reasonable interest rate on her own. There's a reason her credit is fukked up. If I were you, I wouldn't do it, but there's always pressure when family members are involved.

 

[Poh SIti Dawn]

I bet you pullin ALL the mexican broads too

No mames guey

 

[duckbutta]

I know she is your sister...but think about it...her credit is already fukked up...that is why she needs you to co-sign...

So a person who already has fukked up credit...wants you to co-sign on a loan...that will make you take a credit hit if they fukk up on the payments...and obviously this person has fukked up before...hence the bad credit

 

[Deflatedhoopdreams]

Good credit is too hard to achieve and maintain nowadays. Its your sister, tho. If it were me I would give her the following options

1. I'll buy the car in my name, up to like $8,000, and she can make the payments. If she misses 2 payments I'm going to take the car back and sell it. I'll transfer the title into her name after she pays it off.

2. If she has to have the car in her name, I'll loan her $1000 so she can make a bigger down payment, which would make both the interest rate and the monthly payment on the car much more affordable. She can pay me back my little loan in installments or whatever, but in case she fukks up it wont be the end of the world.

I cant understand how anyone has the nerve to ask another person to co sign a fukkin car for them.

Yup, tell her to look around for something He can just loan her cash to cop. So it doesn't fukk up anyones credit

 

[C-NICE]

I work in a bank and co-signing anything is a bad idea breh. ITS ALWAYS A DIFFERENT/BETTER WAY than to go that route. I ask people all the time when they fluck their credit up "what did you gain from this" their answer is always nothing, IF your going to risk your WORD/BOND/CREDIT you need to be driving the car yourself sometimes. IMO don't flucking do it.

 

[The Bilingual Gringo]

Nope, and never will, family included.

 

[Rawtid]

If she needs a cosigner she can't afford the car. Tell her buy a hoop in cash until she can improve her credit and can afford something on her own.

 

[Rawtid]

And good credit is not hard to maintain. Stop borrowing so much fukking money and you wouldn't have to worry about paying so many people back.

 

[Danie84]

Hell no, that's when blood is thicker than water and bestfriend hogwash gets thrown in the bushes

 

[beenz]

Hell naw.

That's too much risk and it doesn't even benefit u.

 

[Swirv]

My mom cosigned for me on a car loan and i lost my income for a while and surrendered the whip. I still feel like shyt for doing that to her. Dont do it especially if you trying to buy a house in a few.

 

[Strapped]

unless she tryna fukk, don't co-sign shyt for that hoe. matter of fact just smash and still don't sign no loan breh.

*edit* oh your sister? nevermind.

He said his sis

 

[intruder]

My sister wants me to cosign a car loan for her so she won't have to pay an astronomical interest rate.

Her credit is and mine is just , but if she gets the car loan w/o a cosigner then her note will be more than she can afford (even though the car isn't that expensive...just due to the interest rate). I told her I'd think about it but I really don't think I want to brehs...leaving heavily toward no.

I mean I try to be a supportive big bro and all but I don't really want to put my credit on the line like that...basically if she's late on payments or something happens, either I gotta pay or my shyt takes a hit. And I might want to buy my first house in a few years. Not that my credit is all that, it's pretty average. Now, granted, I don't think she'd intentionally do something to hurt my score or anything but you never know what might happen, people get laid off all the time.

Anybody here ever cosigned a loan for anybody (s/o, family, friend, etc.)? And if so, how did it work out? Do you regret it? Would you do it again? You ever declined to do so for somebody?

She didn't care enough about HER OWN credit to take care of it. What makes you think she'll care about yours?

I made some mistakes with CCs when I was younger and I work hard to get my credit where it is now (696, 704, 707). I'll be damned if I'm gonna put it at risk for someone trying to ride nice. Tell her to get a cheap car for cash ad that you'll contribute by giving her $1,000 or something