LogFAQs > #971765166

ToadallyAwesome posted...

Depends on your credit score at the end of the day. Co-signing for a loan will affect that as they will do a hard check on it. If you do it right you would need to wait 6 months or more before you get a new car yourself. You dont want multiple checks within a short time frame.

The checks aren't as bad on a credit score as most people believe. It's a few points deducted tops.

TC, what you'll want to look at is your debt-to-income ratio. Anytime you apply for a secured loan like a car or house they will look at your income left over after debt. Co-signing on a car loan adds to your monthly debt payment. It can make it harder to qualify for another car loan if over 50% of your monthly payment goes to debt payments.

As long as you make decent money and the monthly payments for the car are on the lower end, you should be fine.