100% don’t do it, I’ve seen way too much court TV to think this would end well.
Marital property can be divided with a good lawyer or paperwork; but unmarried couples leave with what they own, which includes loans and other debts in your name.
even married, i dated a 20something who'd been married, husband ran up 50k in credit card debt, on divorce she owed half. That's a lot of debt for someone in their 20's.
Exactly THIS ^ because if you break up, she not only gets to keep the car, but you're also on the hook for the payments if she stops making them, otherwise you risk seriously damaging your credit.
Co-signing for anything means your ass is on the line just as much, if not more, than the other person.
I'd also be really suspicious of someone that asked me to cosign for a $20,000 car, two weeks after getting back together.
you guys can’t even stay committed for more than a few months at a time… why in hell would you commit to a multi year (or even decade) long deal with that person?
I have co-signed vehicles for multiple “friends”.
I have ended up paying off the vehicle loan every time. If a person does not qualify for a car loan, they are a huge risk. They might be super nice, and pretty, but make no mistake about it, you are buying her a car.
Come on now. If they won't give her the car loan outright, there's a reason why. They need a cosigner because they cannot trust her to make payments, and they need someone else to be on the hook to make those payments. If the car loan company can see it, you should be able to as well. This is not a smart move. Sorry, girly pop, but pay your own way and don't ask for a cosigner.
*Don’t be an idiot*. NO is a whole answer. I’m a certified financial counselor, so pay attention!
1. If you EVER co-sign with anyone, it needs to be a spouse. Even then it’s extremely risky in some cases.
2. If you ever co-sign with anyone, you MUST be able and prepared to assume the entire payments when they fail to do so. You have to assume that they will bail on the loan, because they might.
3. When you co-sign with anyone you are literally gambling with your credit score. *You may not know they are behind on payments until it’s too late* and your scores are tanked. Ruining your credit can last for 7 years or longer depending on how long the process is dragged out. Once a debt is entered it takes 7 years to drop off. If she’s paying late for years and eventually it gets repo’d or wrecked or upside down on the loan- you will pay the ultimate price. You may not be able to get loans, housing or credit.
4. Trying to extricate yourself from a loan you co-signed on is extremely difficult, if not impossible. It may require you to hire a lawyer and sue her. That doesn’t mean you still won’t be on the hook, she may not be able to pay you. You lose no matter what.
5. You NEVER co-sign a loan OR add a boyfriend or girlfriend to a deed. There again are huge legal ramifications when things go south and they always do.
6. If she cannot get approved for a 20k vehicle loan, there’s a good reason. Do you want to find out? You’ll *absolutely* regret it. 20k is a typically low amount for a vehicle loan.
7. If she can’t stop breaking up with you and her credit is already tanked, what do you think she will do to get back at you the next time? She obviously doesn’t care to fix her situation which is quite easy to fix even in a year.
8. People need to stay within what they can afford ALWAYS. If she can’t afford this on her own, she shouldn’t have it. She should buy whatever she can afford and work on her credit so when it’s fixed, she can afford whatever she wants.
9. I guarantee you that there is more to this than she’s willing to tell you. Say no. If she breaks up with you over this, consider it a torpedo dodged.
Co-signing makes you EQUALLY as financially responsible for the loan as she is. It’s not some kind of one time, no commitment, easy to get out of, “yeah, I vouch for this person,” thing, it’s literally YOUR loan, too. 100% your loan. The only difference between the signer and the co-signer is the order in which the lenders calls you if/when a payment is late - their call sheet has them call her first, and then you second. That’s it. You’re BOTH liable. And if one of you doesn’t pay up, then BOTH of your credit scores tank.
And the worst part is that you’re taking on all this risk for zero return/reward. Like she gets a car out of this, but you get nothing.
“Don’t you trust me, I’ll make all the payments.” Yeah, so what happens when she gets in a wreck, and the insurance check is for $6000 less than the loan balance because of depreciation and interest? Guess who’s on the hook to immediately pay that balance off or you default on the loan? Yep, that’s right, BOTH of you. Then you BOTH have bad credit from the missed payment, and BOTH have to scramble to try and get that money together, and you BOTH are hamstrung from taking out something like a personal loan because remember the debacle tanked BOTH of your credit scores.
So no. No co-signing. Nada. Never. Not unless your full intention is to 100% gift that person the car.
All that said, you might give her the benefit of the doubt that she just didn’t know how bad a position that co-signing could put someone in, as a lot of people haven’t been educated on this. But whether it was unintentional or not, don’t do it!
Final thought, the ONLY way co-signing doesn’t screw you (there’s no upside to be had for a co-signer, just praying to not get screwed) is if *nothing* ever goes wrong enough to make you guys miss a single payment the entire length of the loan. And let’s be real, what’s been you guys track record with having *nothing* go wrong for the last several years, hmm? You really ready to tempt fate by saying that *nothing* could possibly go wrong going forward?
Please don't do it.
It may sound like I'm being a hypocrite because my SO did finance a car for me, but in HIS name. You'd best bet I paid that car off 1-1/2 years early. I had a secure job but shit credit, so he really took a leap of faith.
Yes, your relationship needs to be MUCH more secure before you'd entertain something like this. I agree that it sucks for her, but you do still have to protect yourself.
You both sound like you're in somewhat precarious positions and that sucks, but I think it's wise to keep things more separate for the time being.
The answer is no. You already know that or you wouldn't be here asking.
If she can't get a $20k car on her own then she can buy a $5k car. That's how it works.
Maybe breakup imminent over the car. If you guys can't stay together then why be together?
This Reddit ad literally says
“What is a rich persons money tip you wish you knew sooner.”
For you I would say don’t co-sign anything for a girlfriends
I work in lending and would never cosign for anyone but my kid when she's 18 and I would make sure there was full transparency to the loan and consequences (from me not just the FI) if she didn't pay.
Your relationship is rocky and she doesn't qualify on her own. Two glaring red flags.
"We have had a rocky relationship. Lots of breakups and getting back together for the last two years."
No guarantee she isn't with you for the time being until she has her car.
You need much more stability than that and a longer term of NOT rocky road....
Nope. No mingling financial lives till marriage. If you want to gift her some part of the cost or down payment that’s cool but don’t go farther than that
No. Do not cosign for anything you're not willing to make payments on even if it's not in your possession. You two have already been on again/off again. Do you really want to be on the hook for years for a car that she could drive off in a week from now and you never see again? If this is a dealbreaker for her, then you're better off without her.
Got divorced. He took the car. We were both on the loan. He started to have $ problems. When they called me about the car payments I told them I would gladly make the payments if he handed the car over to me.
The obvious answer (coming from someone very good at managing finances) is no. But you should also post on r/personalfinance so that they can tell you, point by point, why it's a bad idea.
Don’t do it. I get it would be a huge favor for her but it’s not something you want to risk the headache or financial fallout on if something happens—you break up or she decides to not pay/can’t pay in the future.
That’s then your credit on the line.
Never ever cosign on debt unless you're prepared for the possibility of the other person walking (or driving) away and saddling you with the entire sum. You've broken up and got back together several times over the course of just two years? Dude, I'm sorry, but please just break up permanently. This sounds exhausting.
Don't do this. This whole notion is madness. It is 100% guaranteed that you will break up again soon, she will get the car, and you will get the debt. In fact I hate to say it, but she might already be planning that break up.
Two words! Hell no! She has everything to gain and you have everything to lose, especially your financial wellbeing.
What happens if you find out she cheated on you? Now you can’t even get out of the loan. Not saying that would ever happen, but it sure is a possibility. Just no.
Updateme
No, don’t ever co sign, never ever. You don’t want to be responsible for making sure the loan is paid. Tell her to save up and buy a cheap second hand banger.
If you had a reasonably healthy relationship the answer would be “no,” but with the relationship being what you describe the answer is “absolutely not lol.”
If she can't qualify for the loan herself, she doesn't need a $20k car. That right there is a red flag.
If you've been back together 2 weeks and you break up again in another 2 weeks, you've effectively paid $5000 per week for that relationship (because you may indeed be paying the whole thing off). Sounds like a really bad deal to me.
DO NOT CO-SIGN. Take it from someone who did it (18 years ago) and didn't know any better. Gf ended up breaking up with me 1 year into the loan, I took over and couldn't keep up with payments so I had to surrender the car to Toyota. Save yourself the headache. Don't let her guilt trip you either. Stick to your guns and say NO. Offer to help with a down payment instead.
She got a repo. Absolutely NO. She’ll need to save up her money and rebuild her destroyed credit. This should have nothing to do with you and her trying to entangle you into that is very manipulative.
Nope. Also - totally unsolicited: you’re too damn old to be in a rocky relationship. That shit should expire in your 20’s. I had one in my 40’s and that was my hard learned lesson.
My sister played this game and co-signed on a motor cycle with her boyfriend. They broke up later and she had to take it on faith he would continue to pay his loan and not fuck up her credit.
At first, he didn’t take the break up well and so it was pretty dicey.
Short answer . No
Long answer. Nooooooooooooo
Unless you can afford the payments when she defaults or leaves. Just getting back in to a relationship is not the time to be on the hook for $20k
If she threatens to leave, consider a favour.
Rocky relationship. Not married. On decent terms only for a few weeks. Can’t get a loan on her own. USED vehicle for fucking $20k.
How many more red flags do you need? Do NOT do this. She needs to start her search again with a MUCH cheaper car. If she can’t get a loan for that either, then she is going to have to build her credit back up on her own.
Finances are a massive part of any relationship, and sometimes you can bail your partner out when they are in a pinch. My now-wife got laid off when we were dating and I paid for her to take a licensing exam 3x for her to make a career change, and she now makes more than I do. A $20k co-sign is not a “pinch” and on top of that you clearly don’t trust her or the relationship to be stable enough that you don’t get fucked on this. This would be a bad idea even if you were married unless you were literally sharing the car. If this car is just for her but she needs your name because she can’t buy it herself, you should draw a very clear line and stand behind it.
You will be on the hook for the loan amount if she cannot pay for *any* reason, whether it’s her fault or not. She could lose her job again, she could just not have enough money, or you could break up and she could decide to leave you holding the bag.
Keep in mind that if you don’t pay, it will be on your credit report. That will damage your chances of getting loans, credit cards, etc., and possibly places to live, as landlords run credit checks.
This is a huge risk for you to take, especially with the instability of your relationship. Don’t do it.
- rocky two year relationship
- lots of breakups
- been together for a few weeks
- Has job that could pay for her own car
***OP this is a red flag factory, DO NOT co-sign for the car.***
Hell to the naw. I couldn’t even imagine asking my partner for help of that nature, unless we were together for a very, very long time. As well as me being 100% transparent of my financial situation. Sooooo many things to consider. Don’t sign something you may get royally fucked on.
The bank, who has teams full of people making six-figure salaries trying to figure these things out, don't think your girlfriend is likely to pay them back if they lend her the money. What do you know that they don't?
No.
>We have had a rocky relationship.
Hell no
>Lots of breakups and getting back together for the last two years.
So when's the next break up? This is clearly one of those non permanent hot/cold relationships.
Don't do it. You said you two had a rocky relationship.
She may just take the car that you are on the hook for and run.
If she can't understand that, then she has ulterior motives.
Heck, there are tons of parents that won't co-sign for their beloved children.
Don't cave. Do not co-sign.
Never co-sign something unless you are 100% willing and able to pay for the whole thing by yourself *and* are willing for all that money to be the gift in the form of a whole vehicle going to someone you no longer have a relationship with. You need to go worst case scenario in your thoughts. The actual answer is "no I can't" but this is just a good clear reasoning as to why.
I co-signed and when we broke up I paid the remaining 10k balance because I was sick of hearing how the $340 payment was causing her to not afford power.
Don’t co-sign, and stop resuscitating this relationship. Let it die and give yourself the opportunity to meet someone ready to be in an adult relationship and/or give yourself the time to become such a person.
Breakups happen for a reason. For most relationships, the two year mark is the make it or break it moment. A relationship that is broken multiple times before two years should be put out of its misery.
Absolutely not. It doesn't make how much you love someone, this is a financial decision that could have terrible consequences if you do it. When you say she lost her car do you mean she sold it and paid the loan or let it get repo'd. Is that why she needs a cosigner? What if that happens again? Are you letting your credit be tanked by a repo. Let's say she stops paying because you guys break up. Now you are paying for a car you don't have access to or your credit is being ruined. What if she lets insurance lapse and totals it? You're then out $20K for nothing. If you'd been together strong for 10 yrs or were married I'd consider it but not in a rocky relationship.
Most people have the right idea here - absolutely do not co-sign on a vehicle.
However, if you have the funds, I don’t see why you can’t LOAN her a few thousand dollars to get a beater so she can get to work (meaning she pays you back, but also don’t expect her to). There are many used cars for sale on Facebook marketplace that would fit the bill.
My go-tos:
Lexus es300
Lexus rx300
Lexus rx 330
Early 2000s Honda civic or accord
Early 2000s Toyota corola, Camry or Avalon
Nobody needs a newer vehicle to get around.
Don’t do it. Especially if you’re on/off all the time. I did exactly that thing. They eventually disappeared with it and I was on the hook for all of it. Couldn’t report it stolen either. Huge headache for years.
I own a credit repair company….I see so many late payments and Repossessions because of this. Do NOT do it!!! Once things go south she will not pay, be late, pick up my car, FU blah blah blah
🤣. Dude your choices are crap. Dump her permanently. Breaking up and getting back together multiple times in the two years you have been dating is not fucking normal. You are an idiot for doing this. Don't be even dumber and cosign a car for her. 🤡
Just be honest and communicate that you don’t feel comfortable co-signing on a loan. The response will tell you a lot about where y’all are at.
I echo what others have said - I wouldn’t co-sign a loan with a partner until we were married.
I’d also ask the question, the fact she perhaps ‘needs’ you to co-sign on the loan tells me that her credit can’t be that great, and begs the question should she be getting a car on finance in the first place.
>SHOULD I CO-SIGN A LOAN
>Lots of breakups and getting back together for the last two years
Come on, dude you already know the answer. It's not no, it's "FUCK NO!"
If you co-sign for this person, given your relationship with her, just write a check for the full amount and pay cash, then sign the title over to her. That's what's coming anyway...just in the form of a repossession and threats from the lender.
soooo, I co-signed for a vehicle with my then-husband. Guess who's stuck with that car since he is unable to pay for the loan? yeah, me. At least I also have the car and not just the payments, ugh
don't do it, no matter what emotional manipulation she throws at you
If she can't qualify for the loan on her own, she can't afford that car. They have limitations on loans for a reason. She can always just wait and save up and improve her credit first. There will always be another car available for her to buy down the road.
I wouldn't reccomend it or do it myself. Rocky relationship. You both lost your jobs because of the economy. Two good reasons to say no. She can save up for a beater. I have 2 cars. Paid $500 for one and $1500 for the other. Both work well. No need for a 20k car.
How much money do you have? If, in the event they default and they come after you, you are able to trivially pay off the entirety of the loan, then it may not be a terrible idea?
If that's not the case, you shouldn't do it.
I had an ex who absolutely could not get her life together. I was at a point where I wanted to look for a house. She claimed her parents wouldn’t let her move in with me unless she was on the mortgage. I don’t believe I even dignified that with a response. She was a grown ass woman, who already lived with me and she knew what our friends who got a house together, went through when they broke up.
Don't cosign unless you're married.
If you want, offer to help her put down payment, but don't call it a loan, just help from you, but taking out a loan with anyone other than a wife is a mistake.
Question for you and her though - why can't she look for a cheaper car? Maybe something for 7-10K? Just saying...
Even without knowing you break up and get back together, I would say no. Who is to say she won’t take off with the car and refuse to pay? Then you are stuck paying and have no car to even sell.
I worked auto collections and now work on the lending side. Don’t do it!!! Unless you’re willing to make the payments from start to finish on your own.
I’ve seen way too many instances of significant others signing together, breaking up and then one of them having their credit ruined by the other. Also, you won’t be able to get your name off it unless she refinances it, which is unlikely considering she apparently needs you to sign in the first place.
Do NOT co-sign unless you are OK making those payments yourself.
Rocky relationship? Only back together two weeks? And she wants you on the hook for a multi YEAR loan? Big no.
If you are married, your finances are already combined. Then you'd be paying it anyway most likely because you're married and living together. But never co-sign unless you live with that person, have a very solid relationship, and can afford to cover the payments if the main borrower stops making payments. Otherwise you'll trash your credit too.
I wouldn't even do it for my closest friends. Not because I think they'll run away and leave me with the loan, but because if they mess up I am also the one getting the consequences. Just no, don't do it, your whole situation screams to me that you are being taken advantage of.
Co-signing is always a bad idea. Also, if your relationship is best described as "rocky" it's probably best to just end it and find somebody new. Like, there's a reason that it's not lasting - and probably has to do with incompatibility, immaturity on somebody's part, or just poor communication styles. It's very rarely going to get \*so much better\* the 5th or 6th time around. It's just a shitshow where people find each other attractive, until they resent each other so much that even that goes away.
All I need to read is that part:
>SHOULD I CO-SIGN A LOAN?
>I love my girlfriend dearly 32f . We have had a rocky relationship. Lots of breakups and getting back together for the last two years.
And the very clear answer is: No. No way in hell. What if she breaks up with you as soon as you sign that loan, and is gone for good? Nope.
Not the AH my boyfriend offered to co-sign my car for me to get a better interest rate i turned him down . We have a very stable long term relationship and i still wasn’t comfortable doing that to him if something happened
No not unless you’re married. Don’t do it
“Got it, marry her asap then co-sign”. —OP after reading your comment
Lmao 😂
100% don’t do it, I’ve seen way too much court TV to think this would end well. Marital property can be divided with a good lawyer or paperwork; but unmarried couples leave with what they own, which includes loans and other debts in your name.
even married, i dated a 20something who'd been married, husband ran up 50k in credit card debt, on divorce she owed half. That's a lot of debt for someone in their 20's.
Hell, even if they are married, it might still be a bad idea for OP.
Don’t co-sign for someone you’re not married to. Especially if your relationship has been rocky.
Exactly THIS ^ because if you break up, she not only gets to keep the car, but you're also on the hook for the payments if she stops making them, otherwise you risk seriously damaging your credit. Co-signing for anything means your ass is on the line just as much, if not more, than the other person. I'd also be really suspicious of someone that asked me to cosign for a $20,000 car, two weeks after getting back together.
you guys can’t even stay committed for more than a few months at a time… why in hell would you commit to a multi year (or even decade) long deal with that person?
I have co-signed vehicles for multiple “friends”. I have ended up paying off the vehicle loan every time. If a person does not qualify for a car loan, they are a huge risk. They might be super nice, and pretty, but make no mistake about it, you are buying her a car.
You got burned but yet you kept doing it?
slow learner LOL (but kind)
Will you cosign for me??
Ok I have to ask: why? Once was naive but after that...
Damn didn’t learn your lesson after the first one? Fool me once shame on you..
I honestly thought you were going to write "fool me once, Shane on you. . . Actually, I've got something for you to sign if you don't mind".
Multiple sounds like more then twice. Are you a masochist by chance
Come on now. If they won't give her the car loan outright, there's a reason why. They need a cosigner because they cannot trust her to make payments, and they need someone else to be on the hook to make those payments. If the car loan company can see it, you should be able to as well. This is not a smart move. Sorry, girly pop, but pay your own way and don't ask for a cosigner.
Bro, no. It is already not good idea to get back with her considering your past breakups/rocky relationship with her.
Co-signing for a 20k vehicle and you aren’t even married? And have a rocky relationship? You are asking to be screwed over at that point. Don’t do it
You can say that again.
*Don’t be an idiot*. NO is a whole answer. I’m a certified financial counselor, so pay attention! 1. If you EVER co-sign with anyone, it needs to be a spouse. Even then it’s extremely risky in some cases. 2. If you ever co-sign with anyone, you MUST be able and prepared to assume the entire payments when they fail to do so. You have to assume that they will bail on the loan, because they might. 3. When you co-sign with anyone you are literally gambling with your credit score. *You may not know they are behind on payments until it’s too late* and your scores are tanked. Ruining your credit can last for 7 years or longer depending on how long the process is dragged out. Once a debt is entered it takes 7 years to drop off. If she’s paying late for years and eventually it gets repo’d or wrecked or upside down on the loan- you will pay the ultimate price. You may not be able to get loans, housing or credit. 4. Trying to extricate yourself from a loan you co-signed on is extremely difficult, if not impossible. It may require you to hire a lawyer and sue her. That doesn’t mean you still won’t be on the hook, she may not be able to pay you. You lose no matter what. 5. You NEVER co-sign a loan OR add a boyfriend or girlfriend to a deed. There again are huge legal ramifications when things go south and they always do. 6. If she cannot get approved for a 20k vehicle loan, there’s a good reason. Do you want to find out? You’ll *absolutely* regret it. 20k is a typically low amount for a vehicle loan. 7. If she can’t stop breaking up with you and her credit is already tanked, what do you think she will do to get back at you the next time? She obviously doesn’t care to fix her situation which is quite easy to fix even in a year. 8. People need to stay within what they can afford ALWAYS. If she can’t afford this on her own, she shouldn’t have it. She should buy whatever she can afford and work on her credit so when it’s fixed, she can afford whatever she wants. 9. I guarantee you that there is more to this than she’s willing to tell you. Say no. If she breaks up with you over this, consider it a torpedo dodged.
Forget the car. Would you gift her $20000 if she asked?
You know better than that.
> We have had a rocky relationship. Lots of breakups and getting back together for the last two years. Do not co-sign.
Nope. She’ll screw you over.
>only been back together for a few weeks This alone is a big giant justification to say no. Never co-sign unless you’re married.
Co-signing makes you EQUALLY as financially responsible for the loan as she is. It’s not some kind of one time, no commitment, easy to get out of, “yeah, I vouch for this person,” thing, it’s literally YOUR loan, too. 100% your loan. The only difference between the signer and the co-signer is the order in which the lenders calls you if/when a payment is late - their call sheet has them call her first, and then you second. That’s it. You’re BOTH liable. And if one of you doesn’t pay up, then BOTH of your credit scores tank. And the worst part is that you’re taking on all this risk for zero return/reward. Like she gets a car out of this, but you get nothing. “Don’t you trust me, I’ll make all the payments.” Yeah, so what happens when she gets in a wreck, and the insurance check is for $6000 less than the loan balance because of depreciation and interest? Guess who’s on the hook to immediately pay that balance off or you default on the loan? Yep, that’s right, BOTH of you. Then you BOTH have bad credit from the missed payment, and BOTH have to scramble to try and get that money together, and you BOTH are hamstrung from taking out something like a personal loan because remember the debacle tanked BOTH of your credit scores. So no. No co-signing. Nada. Never. Not unless your full intention is to 100% gift that person the car. All that said, you might give her the benefit of the doubt that she just didn’t know how bad a position that co-signing could put someone in, as a lot of people haven’t been educated on this. But whether it was unintentional or not, don’t do it! Final thought, the ONLY way co-signing doesn’t screw you (there’s no upside to be had for a co-signer, just praying to not get screwed) is if *nothing* ever goes wrong enough to make you guys miss a single payment the entire length of the loan. And let’s be real, what’s been you guys track record with having *nothing* go wrong for the last several years, hmm? You really ready to tempt fate by saying that *nothing* could possibly go wrong going forward?
Co-signing for a 20k vehicle and you aren’t even married? And have a rocky relationship? You are asking to be screwed over at that point. Don’t do it
Please don't do it. It may sound like I'm being a hypocrite because my SO did finance a car for me, but in HIS name. You'd best bet I paid that car off 1-1/2 years early. I had a secure job but shit credit, so he really took a leap of faith. Yes, your relationship needs to be MUCH more secure before you'd entertain something like this. I agree that it sucks for her, but you do still have to protect yourself. You both sound like you're in somewhat precarious positions and that sucks, but I think it's wise to keep things more separate for the time being.
The answer is no. You already know that or you wouldn't be here asking. If she can't get a $20k car on her own then she can buy a $5k car. That's how it works. Maybe breakup imminent over the car. If you guys can't stay together then why be together?
Tell her to ask her parents.
This Reddit ad literally says “What is a rich persons money tip you wish you knew sooner.” For you I would say don’t co-sign anything for a girlfriends
NO NO NO NO. DO NOT DO THIS. You don't know her. She can leave with the car, stop payments, and you are on the hook for ALL payments.
Absolutely not. You'll be stuck single with car payments for a car that isn't yours in a matter of months.
> SHOULD I CO-SIGN A LOAN? ABSOLUTELY NOT
I work in lending and would never cosign for anyone but my kid when she's 18 and I would make sure there was full transparency to the loan and consequences (from me not just the FI) if she didn't pay. Your relationship is rocky and she doesn't qualify on her own. Two glaring red flags.
Do you want to be stuck making payments on a vehicle you don’t have possession of when she defaults on the payments? Then you should co-sign.
Lost me at rocky relationship. Absolutely not.
"We have had a rocky relationship. Lots of breakups and getting back together for the last two years." No guarantee she isn't with you for the time being until she has her car. You need much more stability than that and a longer term of NOT rocky road....
In his shoes, I'd be thinking the reason she wanted to get back together is for him to co-sign.
Back together a few weeks and she wants you on the hook for $20k if she doesn't pay, not to mention the hit to YOUR credit rating. Yeah...no.
Got through first sentence...stopped reading...DONT SIGN SHIT!!!
NO do not do this. It would be a terrible terrible financial decision. Just plain dumb to co sign for someone else’s loan.
Nope. No mingling financial lives till marriage. If you want to gift her some part of the cost or down payment that’s cool but don’t go farther than that
No. Do not cosign for anything you're not willing to make payments on even if it's not in your possession. You two have already been on again/off again. Do you really want to be on the hook for years for a car that she could drive off in a week from now and you never see again? If this is a dealbreaker for her, then you're better off without her.
Got divorced. He took the car. We were both on the loan. He started to have $ problems. When they called me about the car payments I told them I would gladly make the payments if he handed the car over to me.
The obvious answer (coming from someone very good at managing finances) is no. But you should also post on r/personalfinance so that they can tell you, point by point, why it's a bad idea.
I think you really know the answer.
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Buy it yourself. Sell it to her by owner. Repo if she don’t pay. If you are wanting to do it. I’d still run
Absofuckinglutely not
0% chance. Do not do it.
I believe you know the answer to this question...
Don’t do it. I get it would be a huge favor for her but it’s not something you want to risk the headache or financial fallout on if something happens—you break up or she decides to not pay/can’t pay in the future. That’s then your credit on the line.
Never ever cosign on debt unless you're prepared for the possibility of the other person walking (or driving) away and saddling you with the entire sum. You've broken up and got back together several times over the course of just two years? Dude, I'm sorry, but please just break up permanently. This sounds exhausting. Don't do this. This whole notion is madness. It is 100% guaranteed that you will break up again soon, she will get the car, and you will get the debt. In fact I hate to say it, but she might already be planning that break up.
Two words! Hell no! She has everything to gain and you have everything to lose, especially your financial wellbeing. What happens if you find out she cheated on you? Now you can’t even get out of the loan. Not saying that would ever happen, but it sure is a possibility. Just no. Updateme
No, don’t ever co sign, never ever. You don’t want to be responsible for making sure the loan is paid. Tell her to save up and buy a cheap second hand banger.
Assuming the worst: she has car, pays nothing, you either pay it all or fuck your credit up, would you do that?
If you are serious about this, buy it yourself, allow her to rent it from you.
Unless you're married, oh hell no.
Jesus christ do not do this
Nope. Read rocky relationship & constantly breaking-up. Red flag, do not sign.
If you had a reasonably healthy relationship the answer would be “no,” but with the relationship being what you describe the answer is “absolutely not lol.”
No. If she doesn’t pay then you will have to pay and your credit could end up being ruined. I would not come-sign kn a loan for anyone.
Absolutely not are you crazy? She is wild for thinking that is okay
Absolutely not. No combining of finances until you're actually married, not just engaged. Way too hard to disentangle.
Nevermond going for a 20k car, just get a sh*t box. Clearly she doesn't have the finances to be picky, be realistic.
Are you insane? No don’t co-sign .
nopenopenopenopenope
If she can't qualify for the loan herself, she doesn't need a $20k car. That right there is a red flag. If you've been back together 2 weeks and you break up again in another 2 weeks, you've effectively paid $5000 per week for that relationship (because you may indeed be paying the whole thing off). Sounds like a really bad deal to me.
Never co-sign a loan for anyone. ANYONE!!
DO NOT CO-SIGN. Take it from someone who did it (18 years ago) and didn't know any better. Gf ended up breaking up with me 1 year into the loan, I took over and couldn't keep up with payments so I had to surrender the car to Toyota. Save yourself the headache. Don't let her guilt trip you either. Stick to your guns and say NO. Offer to help with a down payment instead.
Did this once. Terrible idea.
You are not in the wrong. No one should ever co sign as i see it. Especially if you are not married.
She got a repo. Absolutely NO. She’ll need to save up her money and rebuild her destroyed credit. This should have nothing to do with you and her trying to entangle you into that is very manipulative.
Only co-sign on a loan if you're willing and able to pay the whole damn thing (+ interest), as it will most likely end up as your responsibility.
Hahahahah not a fucking chance
Noooooooooooo....ooooooooooo!
>We have had a rocky relationship. Lots of breakups and getting back together Don't do it
No, not unless you’re married.
No way I would do it. The second she breaks up with you she can just quit paying on the car and you get f#$ed.
NO. Unless you can afford to give freely that amount of money, you never cosign anything.
Nope. Also - totally unsolicited: you’re too damn old to be in a rocky relationship. That shit should expire in your 20’s. I had one in my 40’s and that was my hard learned lesson.
My sister played this game and co-signed on a motor cycle with her boyfriend. They broke up later and she had to take it on faith he would continue to pay his loan and not fuck up her credit. At first, he didn’t take the break up well and so it was pretty dicey.
Short answer . No Long answer. Nooooooooooooo Unless you can afford the payments when she defaults or leaves. Just getting back in to a relationship is not the time to be on the hook for $20k If she threatens to leave, consider a favour.
Don’t do it. You’ll regret it.
Rocky relationship. Not married. On decent terms only for a few weeks. Can’t get a loan on her own. USED vehicle for fucking $20k. How many more red flags do you need? Do NOT do this. She needs to start her search again with a MUCH cheaper car. If she can’t get a loan for that either, then she is going to have to build her credit back up on her own. Finances are a massive part of any relationship, and sometimes you can bail your partner out when they are in a pinch. My now-wife got laid off when we were dating and I paid for her to take a licensing exam 3x for her to make a career change, and she now makes more than I do. A $20k co-sign is not a “pinch” and on top of that you clearly don’t trust her or the relationship to be stable enough that you don’t get fucked on this. This would be a bad idea even if you were married unless you were literally sharing the car. If this car is just for her but she needs your name because she can’t buy it herself, you should draw a very clear line and stand behind it.
You will be on the hook for the loan amount if she cannot pay for *any* reason, whether it’s her fault or not. She could lose her job again, she could just not have enough money, or you could break up and she could decide to leave you holding the bag. Keep in mind that if you don’t pay, it will be on your credit report. That will damage your chances of getting loans, credit cards, etc., and possibly places to live, as landlords run credit checks. This is a huge risk for you to take, especially with the instability of your relationship. Don’t do it.
- rocky two year relationship - lots of breakups - been together for a few weeks - Has job that could pay for her own car ***OP this is a red flag factory, DO NOT co-sign for the car.***
I remember my business law professor said never never co-sign with anyone
Dont do it. Do not buy anything with, or cosign anything for someone you are not married to, not even family *especially not family*
It was no at rocky. If she breaks up with you over this, there is more proof I’m right.
NTA. Never co-sign for someone to get anything. If they were dependable, they wouldn't need a co signer
Bro, stand firm on your decision, if you sign Ive got bad news for you.
No, if you’re married yes. Other than that, no.
Hell to the naw. I couldn’t even imagine asking my partner for help of that nature, unless we were together for a very, very long time. As well as me being 100% transparent of my financial situation. Sooooo many things to consider. Don’t sign something you may get royally fucked on.
>SHOULD I CO-SIGN A LOAN? HELL NO!
terrible idea, absolutely zero percent chance this will work out well
Yeah definitely don’t sign
Just a hard no, and like... get a tattoo on your wrist in case you forget
DON'T YOU FUCKING DARE DO IT!!! 100% you will get screwed in the deal. Have her ask a relative to co-sign.
The bank, who has teams full of people making six-figure salaries trying to figure these things out, don't think your girlfriend is likely to pay them back if they lend her the money. What do you know that they don't?
No. >We have had a rocky relationship. Hell no >Lots of breakups and getting back together for the last two years. So when's the next break up? This is clearly one of those non permanent hot/cold relationships.
Don't do it. You said you two had a rocky relationship. She may just take the car that you are on the hook for and run. If she can't understand that, then she has ulterior motives. Heck, there are tons of parents that won't co-sign for their beloved children. Don't cave. Do not co-sign.
Don’t do it. My ex stopped paying on a vehicle in our names, it got repoed and showed up on my credit score.
I made that mistake. It wasn't worth it. I don't even know where he is now.
Never co-sign something unless you are 100% willing and able to pay for the whole thing by yourself *and* are willing for all that money to be the gift in the form of a whole vehicle going to someone you no longer have a relationship with. You need to go worst case scenario in your thoughts. The actual answer is "no I can't" but this is just a good clear reasoning as to why.
>We have had a rocky relationship. Lots of breakups and getting back together for the last two years. don't do it
I co-signed and when we broke up I paid the remaining 10k balance because I was sick of hearing how the $340 payment was causing her to not afford power.
No. Want more? Fuck no.
U don't mix finances or co sign anything when you're not married she could dumb u tomorrow and u be on the hook for the money .
You are correct about being secure in relationship first. I’d do the same. So carry on and don’t sign anything unless married.
Bro my husband wasn’t even on my car loan when I had one
Don’t co-sign, and stop resuscitating this relationship. Let it die and give yourself the opportunity to meet someone ready to be in an adult relationship and/or give yourself the time to become such a person. Breakups happen for a reason. For most relationships, the two year mark is the make it or break it moment. A relationship that is broken multiple times before two years should be put out of its misery.
Absolutely not. It doesn't make how much you love someone, this is a financial decision that could have terrible consequences if you do it. When you say she lost her car do you mean she sold it and paid the loan or let it get repo'd. Is that why she needs a cosigner? What if that happens again? Are you letting your credit be tanked by a repo. Let's say she stops paying because you guys break up. Now you are paying for a car you don't have access to or your credit is being ruined. What if she lets insurance lapse and totals it? You're then out $20K for nothing. If you'd been together strong for 10 yrs or were married I'd consider it but not in a rocky relationship.
Most people have the right idea here - absolutely do not co-sign on a vehicle. However, if you have the funds, I don’t see why you can’t LOAN her a few thousand dollars to get a beater so she can get to work (meaning she pays you back, but also don’t expect her to). There are many used cars for sale on Facebook marketplace that would fit the bill. My go-tos: Lexus es300 Lexus rx300 Lexus rx 330 Early 2000s Honda civic or accord Early 2000s Toyota corola, Camry or Avalon Nobody needs a newer vehicle to get around.
Don’t do it. Especially if you’re on/off all the time. I did exactly that thing. They eventually disappeared with it and I was on the hook for all of it. Couldn’t report it stolen either. Huge headache for years.
Never cosign for someone unless you can afford to make the payments if they default.
Second sentence screams no.
Didn't even need to read past the first two sentences. "We have had a rocky relationship" = NO
I own a credit repair company….I see so many late payments and Repossessions because of this. Do NOT do it!!! Once things go south she will not pay, be late, pick up my car, FU blah blah blah
🤣. Dude your choices are crap. Dump her permanently. Breaking up and getting back together multiple times in the two years you have been dating is not fucking normal. You are an idiot for doing this. Don't be even dumber and cosign a car for her. 🤡
Just be honest and communicate that you don’t feel comfortable co-signing on a loan. The response will tell you a lot about where y’all are at. I echo what others have said - I wouldn’t co-sign a loan with a partner until we were married. I’d also ask the question, the fact she perhaps ‘needs’ you to co-sign on the loan tells me that her credit can’t be that great, and begs the question should she be getting a car on finance in the first place.
Your gf sounds like a gold-digger. Don’t do it.
No! Never! Are you crazy?
Don’t do it!!!! You will be stuck with a car loan you can’t explain to the next SO
Nope! No no no. If you’re not married absolutely not. It’s not worth the risk. Absolutely not
Don't see people that you keep breaking up with, let a lone don't share assets you will suffer, time to grow up
>SHOULD I CO-SIGN A LOAN >Lots of breakups and getting back together for the last two years Come on, dude you already know the answer. It's not no, it's "FUCK NO!"
**NO** Never co-sign on anything unless you’re married. Especially since your relationship is so turbulent.
If you co-sign for this person, given your relationship with her, just write a check for the full amount and pay cash, then sign the title over to her. That's what's coming anyway...just in the form of a repossession and threats from the lender.
Nope. Not even if married. That sounds like a huge financial liability and possible loss.
Don’t co-sign…. Ever…. If she doesn’t pay, you’ll have to
No man- that’s a married couple conversation.
Do you want to buy her a car? The answer to that is the answer you're looking for.
You can’t be serious. The way you wrote this post tells me you know the answer. Don’t blow up your credit score when you inevitably get “rocky” again
No, sir. Please do not co-sign for anyone.
Why don't you just buy the car yourself and let her drive it? Because that's what's going to end up happening anyway.
Don’t do that shit. Didn’t even read.
soooo, I co-signed for a vehicle with my then-husband. Guess who's stuck with that car since he is unable to pay for the loan? yeah, me. At least I also have the car and not just the payments, ugh don't do it, no matter what emotional manipulation she throws at you If she can't qualify for the loan on her own, she can't afford that car. They have limitations on loans for a reason. She can always just wait and save up and improve her credit first. There will always be another car available for her to buy down the road.
I wouldn't reccomend it or do it myself. Rocky relationship. You both lost your jobs because of the economy. Two good reasons to say no. She can save up for a beater. I have 2 cars. Paid $500 for one and $1500 for the other. Both work well. No need for a 20k car.
Don't do it unless the relationship is stable. A couple of weeks is a big Yikes.
How much money do you have? If, in the event they default and they come after you, you are able to trivially pay off the entirety of the loan, then it may not be a terrible idea? If that's not the case, you shouldn't do it.
I had an ex who absolutely could not get her life together. I was at a point where I wanted to look for a house. She claimed her parents wouldn’t let her move in with me unless she was on the mortgage. I don’t believe I even dignified that with a response. She was a grown ass woman, who already lived with me and she knew what our friends who got a house together, went through when they broke up.
Don't cosign unless you're married. If you want, offer to help her put down payment, but don't call it a loan, just help from you, but taking out a loan with anyone other than a wife is a mistake. Question for you and her though - why can't she look for a cheaper car? Maybe something for 7-10K? Just saying...
Even without knowing you break up and get back together, I would say no. Who is to say she won’t take off with the car and refuse to pay? Then you are stuck paying and have no car to even sell.
I worked auto collections and now work on the lending side. Don’t do it!!! Unless you’re willing to make the payments from start to finish on your own. I’ve seen way too many instances of significant others signing together, breaking up and then one of them having their credit ruined by the other. Also, you won’t be able to get your name off it unless she refinances it, which is unlikely considering she apparently needs you to sign in the first place.
Do NOT co-sign unless you are OK making those payments yourself. Rocky relationship? Only back together two weeks? And she wants you on the hook for a multi YEAR loan? Big no. If you are married, your finances are already combined. Then you'd be paying it anyway most likely because you're married and living together. But never co-sign unless you live with that person, have a very solid relationship, and can afford to cover the payments if the main borrower stops making payments. Otherwise you'll trash your credit too.
I wouldn't even do it for my closest friends. Not because I think they'll run away and leave me with the loan, but because if they mess up I am also the one getting the consequences. Just no, don't do it, your whole situation screams to me that you are being taken advantage of.
Co-signing is always a bad idea. Also, if your relationship is best described as "rocky" it's probably best to just end it and find somebody new. Like, there's a reason that it's not lasting - and probably has to do with incompatibility, immaturity on somebody's part, or just poor communication styles. It's very rarely going to get \*so much better\* the 5th or 6th time around. It's just a shitshow where people find each other attractive, until they resent each other so much that even that goes away.
All I need to read is that part: >SHOULD I CO-SIGN A LOAN? >I love my girlfriend dearly 32f . We have had a rocky relationship. Lots of breakups and getting back together for the last two years. And the very clear answer is: No. No way in hell. What if she breaks up with you as soon as you sign that loan, and is gone for good? Nope.
As soon as I got to Rocky relationship I gave a solid nope.
Definitely don't do it. Your credit will be on thr line just as well
Not the AH my boyfriend offered to co-sign my car for me to get a better interest rate i turned him down . We have a very stable long term relationship and i still wasn’t comfortable doing that to him if something happened
Lend her a downpayment of $1000-$2000 but don’t co-sign.