Re: Will cosigning the loan hurt my daughters credit? - Saab General Bulletin Board - Saabnet.com
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Re: Will cosigning the loan hurt my daughters credit?
Posted by tom.o (more from tom.o) on Sat, 5 Apr 2003 08:05:18
In Reply to: Will cosigning the loan hurt my daughters credit?, Dennis, Fri, 4 Apr 2003 21:33:45
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Dennis,
Cosigning won't hurt your credit at all. I once did it and it turned out fine. The only way would be if she defaulted, but the creditor would call you before it came to that. Even if she makes a late patment, I believe it won't show up on your credit. I would ask the dealer just to be sure. I would do the same thing for my daughter. It saves her money every month, because of the lower finance rate. And also starts to give her a positive credit history, that is an absolute must nowadays. One more thought, I would have her do automatic pay every month out of her checking, then she and you have peace of mind that the payments will be on time, giving her a great credit history. Good luck! your doing the right thing! Tom
posted by 24.151.87...
Posts in this Thread:
- Will cosigning the loan hurt my daughters credit?, Dennis, Fri, 4 Apr 2003 21:33:45
- Thanks everyone, Dennis, Sun, 6 Apr 2003 22:46:15
- Line 1 vs line 2....., Mike Lynch , Sun, 6 Apr 2003 15:42:27
- Is she worthy of it?...., Mike Lynch , Sun, 6 Apr 2003 15:16:57
- Is she worthy of it?...., Mike Lynch , Sun, 6 Apr 2003 15:16:55
- No, but it could hurt yours........., andy , Sat, 5 Apr 2003 08:27:44
- Re: Will cosigning the loan hurt my daughters credit?, Tom.o, Sat, 5 Apr 2003 08:10:09
- Re: Will cosigning the loan hurt my daughters credit?, tom.o, Sat, 5 Apr 2003 08:05:18 <-- Viewing This Message
- my opinion, Bret, Fri, 4 Apr 2003 23:51:09
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