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

[Lugnutz 10+ year member]

socialist

My sister doesn't pay my health care but I'll inquire about that.

 

[WhoSayWho? 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?

Quit being an ashole and sign for your friend. You can rebuild your credit, this is not losing a good friend over.

I can't understand people who put money ahead of family and friends.

Greedy bastard.

 

[duece212 5,000+ posts]

Don't mix friends with business/finances or you will lose friends, simple as that.

 

[_DjScrew_ 5,000+ posts]

Don't mix friends with business/finances or you will lose friends, simple as that.

truth.

 

[WhoSayWho? 5,000+ posts]

Don't mix friends with business/finances or you will lose friends, simple as that.

truth.

Quit trolling. You guys know signing is the right thing to do.

 

[duece212 5,000+ posts]

Quit trolling. You guys know signing is the right thing to do.

busted //content.invisioncic.com/y282845/emoticons/redface.gif.62fdbfe1a101588a808c4cff71bcb942.gif

 

[IamDeMan 5,000+ posts]

My sister doesn't pay my health care but I'll inquire about that.

LMAO

 

[Flipx99 5,000+ posts]

Quit trolling. You guys know signing is the right thing to do.

Some friends I would, some friends I wouldn't. If I knew he couldn't afford the thing and was headed to disaster, then I wouldn't. If he was making a practical choice with a good plan to pay it off, then I would.

 

[_DjScrew_ 5,000+ posts]

busted //content.invisioncic.com/y282845/emoticons/redface.gif.62fdbfe1a101588a808c4cff71bcb942.gif

//content.invisioncic.com/y282845/emoticons/sneaky.gif.7189749b3a3f769e8815b47e8ae87f88.gif

 

[GAM3OVR 5,000+ posts]

I wouldn't cosign for my siblings and ever since I pissed away money my parents put up for school, I haven't asked for a dime from my family nor will I.

I have never owed $ to anyone, if I need more $, I just go and make it

Gettin into debt is not on my list of agenda.

A lot of people owe me $ though. About $860 in total.

I think it's fair to ask you're friend to pay you a percentage if they can't return the sum in whole.

If you borrow $100 you return $100, not $5 everyday.

 

[Flipx99 5,000+ posts]

I have never owed $ to anyone, if I need more $, I just go and make it
Gettin into debt is not on my list of agenda.

A lot of people owe me $ though. About $860 in total.

I think it's fair to ask you're friend to pay you a percentage if they can't return the sum in whole.

If you borrow $100 you return $100, not $5 everyday.

That is dumb.

 

[bigbangtheory 5,000+ posts]

Didn't read the thread, but did he ask his parents?

Hell my parents won't co-sign shit for me because my credit sucks, but that is who he should be asking, not a friend.

 

[Lugnutz 10+ year member]

Submit a letter to your congressmen asking for federal aid.

 

[alvitae 10+ year member]

Tell him that this guy on the internet said it will mess with your credit to debt ratio lowering your FICO score thereby causing your credit cards to jump up in rates.

 

[99grandprixGT 5,000+ posts]

shit i never lend my friends more than im willing to lose so like 40 bucks.