[little jacob]

i still wouldn't do it. if my daughter can't afford a new car she shouldn't be buying a new car. she should be buying a junker like i drove when i was 17 until she can afford something new. Or, I would be better off just giving her money to put toward a new car.


if you cosign a loan for someone else for a car for example, the lender will not tell you when the person pays every payment late, but your credit score will get lower every month from the late payments. even if you notice that, there is nothing you can do to make them sell the car, because you don't own it. you just agreed to pay for it.

the bank will not tell you before they repo a car but you will get a repossession on your credit, so forget about getting any loans yourself for 7 years or so. the bank will however come and make you pay the difference between the loan balance and the price they got for the car at auction. so after all these black marks on your credit, you will still have to pay the loan off anyway.