Can a senior cosign for a car loan?

My mom said she'd cosign for my car loan, but she's 70 years old. Does age matter? Could my senior mom still cosign for my car loan?

Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
That’s so nice that your mom wants to cosign for your
car loan
! The good news is that even if she’s a senior, she can still qualify to be your cosigner so long as she:
  • Has a strong credit score
  • Has a steady income (usually more than Social Security)
  • Has a debt-to-income ratio below 43%
If she meets these criteria, she’s likely a strong candidate for a cosigner.
Additionally, you can always reach out to your lender to confirm whether your mother could cosign. Lenders have specific guidelines and requirements, so they can tell you whether it’d be possible or not. If it isn’t, you can always shop around to find another lender who may.
While your mom may help you with car loan approval, you still have to get full coverage auto insurance for the duration of your loan. That’s when you should download the
app. Sign-up takes less than a minute and Jerry compares rates from 50+ insurers to find the best policy for you.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.

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