co signing for a car loan

Monday Rant #5 – Lesson Learned Co-Signing for a Car Loan

Gen Y Finance Guy Rants 23 Comments

If you’re thinking about co-signing on a loan for a friend or family member, maybe you should reconsider. I know we all want to help out our friends and family. But, I am going to share a story with you about my experience with co-signing. It cost me about $3,000…ouch! Before we get started there is one thing you need to internalize: no one cares about your money as much as you do! The 1st and last time I ever co-signed a loan It was 2006 and my dad had just been released from prison on parole for good behavior…AGAIN. Anybody that has read my story knows that it is a scene out of the movies, but it was real life for me. I …