Co-signing, no credit, options?

northface28 · ‎03-11-2017

My mom wanted to get a new car but doesn't have a score generated. She asked me to co-sign, of course that was a hard no.

What I was wondering if I made her an AU on some of my cards would that be enough to generate a score?

JGGM · ‎03-11-2017

It will generate a score, but she'll still be limited on financing options. Unfortunately, I've seen time and time again where it's harder for a "ghost" credit score to get a loan than someone with terrible credit.

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Anonymous · ‎03-11-2017

@northface28 wrote:
My mom wanted to get a new car but doesn't have a score generated. She asked me to co-sign, of course that was a hard no.

What I was wondering if I made her an AU on some of my cards would that be enough to generate a score?

That will be enough and will help her out. There are some deslerships that will give her a loan so definately do that to boost her up.

StartingOver10 · ‎03-12-2017

@Anonymous wrote:
@northface28 wrote:
My mom wanted to get a new car but doesn't have a score generated. She asked me to co-sign, of course that was a hard no.

What I was wondering if I made her an AU on some of my cards would that be enough to generate a score?
That will be enough and will help her out. There are some deslerships that will give her a loan so definately do that to boost her up.

Once she is AU on one or two of your cc's - have her get her own then apply for a vehicle loan. You are smart to turn down the co--sign. It isn't a good idea to co-sign for anyone IME.