Auto Loan, can someone co-sign more than one?

[unkn0wnentity]

My grandmother co-signed for my sister a year ago, and I would like to know if there is a limit on the number of loans someone can co-sign for, specifically auto loans.

 

Thanks!

[MarvBear]

not unless she get arthritis so bad she can't write no more.

 

Banks look at a lot of things when considering loans. If the applicant needs a qualified co-applicant, and your relative qualifies, then they qualify. Of course, each lender may have different approval criteria.

[unkn0wnentity]

That's what I thought. I googled it first, and couldn't find a limit, but wanted to double check. :-)

 

Thanks!

[MarvBear]

One would assume that if your relative has scores and income high enough to support the debt the another auto loan should be feasible. They will look to your relative for payment should the other person default. So your relative would necessarily have to have the means of repayment if that were ever to be a problem for the term of the loan.

 

Good luck.