Oh, I don't know about that! The degree of value that a relative places on another relative's credit standing can't be measured by whether or not they ask/allow them to co-sign a loan. As a matter of fact, having a co-signer would make some people feel the weight of responsibility all the more, simply because someone elses credit is at stake. Needing a co-signer doesn't in any way mean that the degree of care or concern is lessened.
The very first car that I purchased (myself) after graduating from college was co-signed by my father. It was my first major purchase, and I had no open credit lines (no baddies either, just none open) at that time. So, I *needed* a co-signer to buy the car. My father would have made any payments that I couldn't make, with nary a complaint had it come to that. But, because he was a co-signer, I was not going to miss any payments, and I didn't. I also paid the car off earlier than I might have if I didn't have someone elses fate tied to mine. I valued his stellar credit rating more than I valued my own, because of his willingness to go out on a limb for me.
Like Woopah, had I run into trouble, I would have forgone a whole lot of stuff, and taken hits to my other obligations before I allowed that car note to go unpaid.
@Anonymous wrote:
If you cared THAT much about his credit, you wouldnt have put him at risk by having him co-sign for you. Your situation is MUCH easier.
