 TITLE: Should You Get a Cosigner on a Car Loan? CONTENT: The Cosigning Process\n---------------------\nThe first step in the cosigning process is choosing someone to be your cosigner. You'll want to ask someone you trust and who has good money management habits. Since your cosigner should have a relatively high credit score, think about who you know that is responsible with their finances. For instance, if you know your best friend makes a habit of carrying little to no debt and paying their bills on time, they might be a good candidate.\nOf course, cosigning a loan is a big ask, and even someone who is close to you may be reluctant to agree. Before you approach them, gather all of the information you can about the lender, the loan and the type of vehicle you want to buy. Showing that you've already put a lot of thought into the process may reassure them that you're committed to making your payments on time and protecting both your credit scores.\nAgain, it's a good idea to talk through any concerns they have, as well as how you'd handle any worst-case scenarios. Do you have a few months of payments in savings already in case you lose your job or can't work for a period of time? Is your cosigner willing and able to make payments on your behalf if needed to help you avoid default? Having a game plan will help you deal quickly with any emergencies and avoid any negative outcomes for either of you.\nOnce you're ready to apply, your cosigner will need to authorize a credit check and provide other information to the lender as well. If you are applying over the phone, they may need to get on the line with you. For in-person applications, they may need to be present as well. END