My daughter wants me to co-sign on a car loan for her. I don't want to but I can't loan her the money. Her interest rate will be pretty high (not a lot of credit yet). I trust that she will pay the loan with no problems. I'm thinking of taking the loan out instead of her to get a lower interest rate.
I would definitely go for the co-signing because if you buy it then you go on the title as the owner. If you co-sign you can keep your name off the title. If your daughter gets in an accident with you on the title you can be held separately liable.
I didn't know about the accident and title issue - that is a good point. I would co-sign too, every kid needs a chance. You could help her build her credit by co-signing and having her pay the bills on time.
As long as you trust that she will make the payments, and can make them yourself if something changes and she can't pay, then go ahead and co-sign. She needs to build her credit somehow.
Co-signing
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