While you may want to help out a friend or a family member by cosigning a loan for them, you have to consider your own credit health before committing to the responsibility. Basically, don't sign anything until you learn the facts.
While you may want to help out a friend or a family member by cosigning a loan for them, you have to consider your own credit health before committing to the responsibility. Basically, don't sign anything until you learn the facts.
While it would be a great and generous favor to someone you care about, cosigning has the unfortunate potential to end badly for you and your credit. Of course, sometimes this arrangement works out perfectly well for both parties involved. Just make sure that both you and the primary borrower understand what may be at stake when two people share one loan.
As previously mentioned, a cosigning arrangement can have a happy ending. And if you're ready to show a friend or family member that you truly believe in them, Auto Credit Express will help that borrower find an affordable auto loan that truly fits their needs.
Or, if you're the one who needs financing, just fill out our fast and secure online application to get started today.
Senior Automotive Financing Editor
Amy is a Michigan-based writer who has written hundreds of articles about automotive finance. In addition to creating content as lead writer/editor for the Auto Credit Express website, Amy manages our social media accounts to bring must-know advice to our audience. Amy was born in North Carolina and grew up with an appreciation for NASCAR and everything automotive. Now based in the Motor City, she continues to be happily immersed in car culture and automotive finance.
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