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trey2401

Wanna co sign for my girlfriend but will it work

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My credit score is 720 718 757 my girlfriend credit is 520 but she had a repo 8 months ago b4 we met for being a co-signer for her sister that most epically failed. The charge off of is for 19k. The car she wants now is 40k i have a fairly new car loan 7 months old for 90k  paid on time. I was wondering without running my credit to a bunch of banks do you think i can be her co-signer without her having to put any money down? I would like to use any down payment to pay her note for the next 12 months in advance after the loan is secured. 

Edited by trey2401
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2 hours ago, trey2401 said:

My credit score is 720 718 757 my girlfriend credit is 520 but she had a repo 8 months ago b4 we met for being a co-signer for her sister that most epically failed. The charge off of is for 19k. The car she wants now is 40k i have a fairly new car loan 7 months old for 90k  paid on time. I was wondering without running my credit to a bunch of banks do you think i can be her co-signer without her having to put any money down? I would like to use any down payment to pay her note for the next 12 months in advance after the loan is secured. 

Never cosign from someone you've only known for 8 months who already has a repo on her record. 

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Are you prepared to be paying for a car long after you have stopped shacking up?  After all, you co-sign, the relationship goes south, she has a car that she won't have to bear any real responsibility for since she will know that you are going to have to make payments since you value YOUR credit report even if she doesn't care one whit about her own...

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I would not even cosign for one of my split personalities!!!!
 
NEVER COSIGN!~!!!!!!!!
I'm with yours truly.

Sent from my SM-N950U using Tapatalk

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90K outstanding loan + 40K new loan.

I think I'll hang onto the one I have that is paid off.

Edited by chicagorich

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On 2/4/2019 at 12:04 AM, trey2401 said:

The charge off of is for 19k.

Who's to say collections won't come after her for that 19K, getting a judgment and wage garnishment?  Can she pay that *and* the $40K you plan on lending her?  (that's basically what co-signing is, really).  

 

Never Co-sign.

 

 

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