Can we stand as guarantors for our son in law who has a bad credit rating to buy a new car?

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Can we stand as guarantors for our son in law who has a bad credit rating to buy a new car?

Anyone can co-sign for anyone else if they want to put themselves at risk. On your credit report, it will appear the same as if you took the loan yourself. There is no way around it if you co-sign.

Can we stand as guarantors for our son in law who has a bad credit rating to buy a new car?

as guarantors u r not actually borrowing money u r guaranteeing that u will repay the debt should ur son in law fail to do so. This will not affect ur credit rating unless u also default on the debt. It all just comes down to how much u trust him.

Can we stand as guarantors for our son in law who has a bad credit rating to buy a new car?

I'm sure you can, but I wouldn't risk your good credit rating...if he fails to pay and you are the guarantor then think of the family consequences.....If I were you I would let him get his own credit...they do have companies that deal with bad risk customers, they just pay a lot of interest, which serves them right.....

Can we stand as guarantors for our son in law who has a bad credit rating to buy a new car?

It would probably be cheaper if you took on the finance yourselves and recovered the repayments from your son.

Can we stand as guarantors for our son in law who has a bad credit rating to buy a new car?

if he has a bad credit rating then the whole loan will have to go in someone elses name and they will be liable for the complete loan. If your son-inlaw can still get a loan but requires a guarantor then you can be it, but you will have to make the payments if he doesn't, it depends how reliable he is and if you can afford to make the payments if he can't, I think its down to the lenders to say if they will allow him to have a loan with a guarantor

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Can we stand as guarantors for our son in law who has a bad credit rating to buy a new car?

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