Wait, so you want someone that's already co-signed on a loan, to co-sign with you and they may want to get their own loan later?
Co-signing a loan is no different than taking the loan on themselves. It won't matter that you're paying the loan, it will still affect their debt to income ratio. Unless their income along with the income from their co-signers can support more than 1 loan, they won't be able to get another.
Hi @VongsayW, I've merged your two identical threads. Please avoid cross posting in the future; it's confusing to follow and is against the guidelines here.
You won't like this advice but it's the advice I wish someone drilled into my head when I was your age instead of the stupid things I have done.
Why do you need to take on a $600+ car payment?
Why do you need such a nice car?
Have you taken the $600 plus and put in bank for 3-6 months to make 100% sure you are comfortable with the car payment?
it's also a little unfair to burdeon someone with the obligation of co-signing for you. Should you make even 1 late payment it will affect their credit score and yes it will absolutely count no different than if the loan was in their name alone and could limit their ability to takeout another car loan.
Cars are cool, when I was 19 I traded in my 1985 Mustang GT that I owned free and clear and financed a new 1987 Mustang GT biggest mistake of my life and set me down a viscous cycle of new car after new car.
I could have bought a condo at 21 and upgraded and upgrade and have a really nice house now.
Do you need a car - maybe, probably.
Do you need a 33K car - highly unlikely.
Do you want a 33K car - definitely.
Finance what you can afford without a co-signer. There is nothing wrong with an 18 year old driving a $10K used Honda or for that matter a $5K used Honda.