No, but it could hurt yours......... - Saab General Bulletin Board - Saabnet.com
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You are guaranteeing payment. If she can't make the payments (loss of job, illness) then the bank will look to you to make the payments. If your circumstances change and you can't make the payments, then you will have a default on your credit history.
Also, the value of the car loan will be counted as outstanding debt for you the next time you apply for credit, refinance, etc. If you are already at your fiscal limits for credit puposes, then you may be denied credit later on.
All of the above considered, cosigning is a nice way to help your daughter, I hopes she enjoys her first car
posted by 216.179....
Posts in this Thread:
- Will cosigning the loan hurt my daughters credit?, Dennis, Fri, 4 Apr 2003 21:33:45
- Thanks everyone, Dennis, Sun, 6 Apr 2003 22:46:15
- Line 1 vs line 2....., Mike Lynch , Sun, 6 Apr 2003 15:42:27
- Is she worthy of it?...., Mike Lynch , Sun, 6 Apr 2003 15:16:57
- Is she worthy of it?...., Mike Lynch , Sun, 6 Apr 2003 15:16:55
- No, but it could hurt yours........., andy , Sat, 5 Apr 2003 08:27:44 <-- Viewing This Message
- Re: Will cosigning the loan hurt my daughters credit?, Tom.o, Sat, 5 Apr 2003 08:10:09
- Re: Will cosigning the loan hurt my daughters credit?, tom.o, Sat, 5 Apr 2003 08:05:18
- my opinion, Bret, Fri, 4 Apr 2003 23:51:09
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