Is there an age limit for cosigning for a car loan?

Is there an age limit for cosigners? My bank tells me I need a cosigner to get a car loan. The only person I can find is my grandfather, who is 85 years old.

“The only age restriction for cosigning applies if you’re too young. You have to be at least 18 years old to be a cosigner.
However, there is no age limit on the high end.
If your cosigner passes away, that’s another deal. Your grandfather’s estate will be responsible for paying for the loan on your new car if you default.
In some cases, the loan may also have an automatic default clause, which means your grandpa’s estate is responsible for paying the full balance of the loan upon his death.
Just make sure to pay the loan on time and respect your grandfather for doing you a favor.”
Eric Schad
Answered on Jul 13, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.

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