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?

If your credit rating is good, you can borrow money for anything, and don't have to divulge who the money is for.

I'd be very careful if I were you. Why has he got a bad rating?

Are you prepared to pay the loan repayments if he defaults?

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

you can co-sign for him which is being a guarantor

it also means if he misses a payment that ur liable for it, so make sure u take that into consideration when they r telling him what the payment is

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

If your Son in law has bad credit, the only way you would be able to help him is to be co-signers for him, or to put the car in your names and make him the co-signer. Either way you are on the hook.

Unless you can get your own bank to do it and not report to the credit bureaus.

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

Yes, if the loan company will accept. You will be liable, of course, for any "falling behind" of repayments.

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

you can but i think you,d be nuts to do it. the only way he is going to learn how to manage his debt is if he has to live with the consequences. i am speaking from experience. i too have a bad credit rating and just kept spending because i always knew there would be someone there to ease the fall but i am getting better, i am far from perfect, but a lot better than i was. help him in another way. maybe pay to have his car serviced and repaired or pay a few hundred pounds for something a bit more reliable, but if he refuses it may be he just want,s something a wee bit more up to date. if you do help him out make sure it gets paid back even if it,s years later.

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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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