Co-Sign Question?

Question

My grandfather wants to co-sign for car to help build my credit.But we live in different states would that be a problem ??

Answer 1

yes it will help your credit if you pay on time but if you do not it will hurt yours and his.  he has to be present to cosign unless it is a bank or something with a branch in his state and they will work internally to help you obtain the loan

Answer 2

It will not be a problem that he lives in another state.  Make sure to thank him and take the trust he is putting in you very seriously.

Answer 3

how will he sign then?

he must have long arms...

Answer 4

That is very nice of Grandfather to stick his neck out on the line for you, I hope you don't take advantage of him

Answer 5

Ask the lender.

Answer 6

This shouldn't be a problem.  You can over-night the papers for him to sign.  And yes, this would be a way to start a good credit rating, assuming that you make all payments on time.

Answer 7

If you need a co-signer to get a loan, it won't do much for your credit record. The bank knows they have a back-up source for their money- Grandfather.