Can you have a cosigner for credit purposes only, on financing a car?

Question

Im lookin to purchase a car. I have the income and ect. but not the credit score. Therefore see my question above

Answer 1

Yes, thats what a cosigner is for.

Answer 2

The co-signer is merely someone with good credit who guarantees your loan.  They are not an owner of the car, but are merely saying "I trust this person to make his payments, and if he doesn't for any reason, I will."

If you find someone willing to sign for you, don't miss a payment because it will affect their credit.

Answer 3

The purpose of a co-signer is to spread out the risk of the lender when you do not qualify due to poor or lack of credit.

Note that this person is responsible for the debt if the buyer defaults on the loan.  If the car is repossessed, it destroys the credit of the buyer and the co-signer.

I would never co-sign for anyone on a loan.  There are no advantages to doing it.