How to tell a friend you dont want to co-sign for them?

[qtipextra 5,000+ posts]

One of my closest friends hit me up a week or 2 ago about co-signing an auto loan for him. I told him then that I would have to think about it.

Now, he is calling me and texting me about if I have made a decision yet.

I am not going to so-sign for him for some personal reasons.

1) I am just starting to build my own credit.

2) If he doesn't pay I don't want it to ruin our friendship.

I know he would not intentionally screw me over, but he hasn't had the best reputation for paying things on time.

I have been avoiding his question, because I know it will kind of disappoint him if when I tell him no.

How should I go about telling him that I don't want to cosign without hurting his feelings?

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[Pootie 10+ year member]

I don't want to co-sign for you. /thread

 

[Randy Savage 5,000+ posts]

Text him back "Only if you have *** with me"

If he agrees, he's a pretty good friend. If not, you've probably got AIDS.

 

[djeazie 10+ year member]

Tell him with the economy being so jacked up, you dont want to have anything hanging over your head.

 

[Annnarbor84 5,000+ posts]

Right now, I wouldn't co-sign for shit in this economy. It could also get ugly if he started missing payments and what not. You in the end will be holding the bag:crap:

 

[Lugnutz 10+ year member]

Break the news to him in a rap.

 

[qtipextra 5,000+ posts]

Right now, I wouldn't co-sign for shit in this economy. It could also get ugly if he started missing payments and what not. You in the end will be holding the bag:crap:

Exactly. Thats one reason I don't want to cosign for him. I don't want to have to pay for anything extra. I am very financially stable right now, but if I had an extra payment of 250 I had to pay, then I wouldn't be in a good position.

 

[crunktimes.com 5,000+ posts]

Just say no, how hard is that.. I have had half a dozen family members and chicks that have asked me that before and usually I say it nicely and tell them I have shitty credit blah blah blah.. If they press it like 'Oh well let's just try' I tell them to fuck off.

Only people that should co-sign is parents for kids or husband/wife. If someone is old enough to have credit on their own but don't get approved they either a) can't afford it or b) **** at paying bills on time.

 

[KHARPS 10+ year member]

Don't do it man. Not worth ruining your credit. I've had a friend take out a loan from some shady loan place to go to Vegas and he put me down as a reference without me knowing. Next thing I know I had a loan place calling my phone a couple times a week from February to June asking me to talk my friend into paying them back.

 

[djeazie 10+ year member]

Is he putting any money down?

 

[Annnarbor84 5,000+ posts]

Exactly. Thats one reason I don't want to cosign for him. I don't want to have to pay for anything extra. I am very financially stable right now, but if I had an extra payment of 250 I had to pay, then I wouldn't be in a good position.

Yeah, your nuts if you even consider this. Not to mention the interest rate your friend is going to get will probably be bad, compared to what he could get in a flourishing economy.//content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

 

[dragnix 5,000+ posts]

"fuck you, i don't trust your bish ***"

 

[IamDeMan 5,000+ posts]

Text him back "Only if you have *** with me"
If he agrees, he's a pretty good friend. If not, you've probably got AIDS.

this

 

[qtipextra 5,000+ posts]

Is he putting any money down?

No.

Yeah, your nuts if you even consider this. Not to mention the interest rate your friend is going to get will probably be bad, compared to what he could get in a flourishing economy.//content.invisioncic.com/y282845/emoticons/crap.gif.7f4dd41e3e9b23fbd170a1ee6f65cecc.gif

I am not considering it. I have already made up my mind. I just don't know how to tell him that I don't want to.

 

[jco1385 5,000+ posts]

hey man, i can't co-sign because i am responsible for you if i do. i'm not comfortable with that.