Mommysavers › Forums › Frugal/Simple Living › Money Matters › Would you co-sign a car loan...
New Posts  All Forums:Forum Nav:

Would you co-sign a car loan... - Page 2

post #11 of 17
Thread Starter 
We did with my oldest and it turned out badly, and we swore we would never do it again, but... Today we are consigning a loan for my younger daughter. She needs a reliable car and has no credit history. I guess if it doesn't work out, it is just one of those things. I just feel like we have to help however we can. I suppose if we end up paying for it, then we will take the car to use for the boys who are really close to driving age now.
post #12 of 17
deleted...duplicate post.
post #13 of 17
I would but they would have to have a stable job that pays enough and they would have to have the fear of God put into them that they better pay. So far neither of my kids have bought a car....they just share a beat up car we had sitting around. I'm sure they'd love one, but neither of them have even ever asked about buying a car. Seriously....neither one has ever brought up the issue. What money they save is for college expenses at this point in their life. Once they get out of college and get a job, then we'll discuss spending money on cars.
post #14 of 17

Nope. If they don't have enough credit for a car loan, then I guess they aren't getting a car loan. Ditto for if their credit isn't good enough to get a loan.

 

Welcome to adulthood biggrin.gif

post #15 of 17

That would depend on how reliable they are. If they are reckless or careless then no. My parents cosigned on a car for me and I KNEW better than to mess that up!

post #16 of 17

We would consider it, but more likely would help them save for a used car with cash. 

post #17 of 17

We would consider it, but it would depend upon a lot of things, if they are working steady and for how long they have had their job, how responsible they are, the type of need for the vehicle and so on. The car that our dd is driving right now is one that we had originally bought as a family car, but dh & I didn't use it all that often and it just gradually became her car, she does pay for all of the gas and eventually we will have her pay for the insurance, tabs, etc.

New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Money Matters
Mommysavers › Forums › Frugal/Simple Living › Money Matters › Would you co-sign a car loan...