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Can someone co-sign on a vehicle if they already have other payments?
I'm trying to buy a car and have someone willing to co-sign with good credit, but I was wondering if the dealership/bank (credit union) will allow someone to co-sign even if the co-signer has their own car payments and house payments?
3 Answers
- TiggyWiggyLv 79 years agoFavorite Answer
Sure, as long as they have enough income to support the new debt as well as their own debts. Even though you don't expect the person to have to make payments for you, they still have to qualify as if they were making the payments.
- Anonymous9 years ago
Maybe. It all depends on their income and other debt. The lender wants to see plenty of income so that they can easily pay all their obligations and yours if you fail to.
