Would it help me a lot to get my mom to cosign on a car loan for me? "

"I have good credit and I work two part-time jobs making enough money to afford the car that I want to buy. I got approval through a credit union, but the rate is ridiculous. Would a cosigner help me in this situation?"

“It could help you tremendously. However, it could also ruin your mom’s credit and that relationship for you.
Let’s say you get a year into that car loan and lose one or both of your jobs so you stop making your car payment. Your mom is now on the hook for those car payments. The lender will come after you and then your mom.
A cosigner is taking a big risk helping you out, so make sure you’re shopping for the best deals and taking on a financial responsibility you can handle.
Johnny Puckett
Answered on Jul 26, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.

Did this answer help you?

Ask us a question by email and we will respond within a few days.

Have a different question?

You can meet us at our office and discuss the details of your question.

Read advice from car experts at Jerry

Easiest way to compare and buy car insurance

No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
Find insurance savings — it's 100% free