Quote:
Originally Posted by Money2536
You should never, ever ask anyone to co-sign for you, relative or not. Anyone naive enough to co-sign for someone is not sophisticated enough to make such a decision. She obviously has no idea what she's getting into despite your hopefully good intentions. If are unable to pay, she will most likely not be able to afford a $1,000-$1,200/month payment. With $80,000 in income, she will take home less than $5,000 a month. That would mean her potential car payment will be approximately 25% of her income. Why put a member of the family in a situation to ruin their credit?
If you need a co-signer, you should not be buying the car. Don't buy things based solely on a monthly payment.
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I understand not all of us me included make a few hundred thousand some of you guys make. If a family member knows the cash I make or have saved incase and they know they are in good hands why not help its all about the credit to keep payments downand payment will be like 1/9th the money I make. ALL I am tryng to do here is is get oppinions on how or if it would work better under my name with a co signer then under a company . If I can't get this figured out I guess I will just have to give them what they want. Its a shame wife does ok too but our credit is not in a high teir, that will be no more . I will not be in this position again.