Can I be a co-signer for a car if im already a co-signer for someone else?

Question:


Answers:

Is anyone selling a car?

As a co-signer, you are subject to the same qualifications for the loan as the buyer. You will need good credit, and enough income to be able to pay both payments, as well as any other debt that you have.

nissan sentra 1984-1986?

It is possible, but be careful. If the buyer defaults, you have to make the payments, or else your credit will be severely damaged!

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good dealerships in or around Lufkin, Texas?

Yes

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what do people think of 2007 envoy denali with navigation 40020 msrp. with 3750?

If your credit is good enough... but why would you want to?

1963 International Travelall value?

I'm assuming that you have your own car payment. If the person whom you are co-signing for fails to pay then you are responsible. Could you really pay for three car notes along with all your other bills?

Do you want 2007 to be better then 2006..?

You may think this is an unlikely scenario, but if someone is needing you to co-sign in the first place then the liklyhood of them needing additional help in the future isn't so far fetched.

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Is Jasen Mummert the #1 Volkswagen Salesman in the USA or just in Illinois?

If your credit is strong enough. And if you're that gullible!

Sons first car?

Why would you possibly want to cosign for 2 car loans? Do you really want to be responsible for 2 loans and have all that drain on your credit rating?

I'm planning to buy a car my budget is 7 lakhs and can wait for a couple of months for new models to come out.

IMHO, that's not smart financial management!

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Why do so many of you buy SUVs?

Outside of the previously stated obvious concerns, the most important thing to remember is that even if you know this person will pay the bills, this co-signed purchase will affect your debt to income ratio, potentially your credit score, and at some point if you yourself need to get a loan in the future you may be declined due to excessive debt already.

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