Quote:
Originally Posted by vrizzo53
I'm not disagreeing with you, but how can me taking a 6,000$ loan a big mistake? I'm trying to understand this more, but I just can't see where it is bad other than him not paying me.. I don't mind making the payments. I'm in a very secure place financially on my part. Once the loan is paid off, the title gets written to him and that's all for me and him.
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He doesn't make the payments and your credit gets ******. Never cosign for anything. Someone who doesn't qualify for financing is an unsafe risk for a personal loan. Plus, the bike is still in your name. Even with his own insurance, if he screws up bad enough you can find yourself in court since its your bike.