{"id":1742,"date":"2026-01-28T06:59:34","date_gmt":"2026-01-28T06:59:34","guid":{"rendered":"https:\/\/tpbn.net\/alakra\/?p=1742"},"modified":"2026-02-03T10:53:09","modified_gmt":"2026-02-03T10:53:09","slug":"the-co-signer-story","status":"publish","type":"post","link":"https:\/\/tpbn.net\/alakra\/the-co-signer-story\/","title":{"rendered":"The Co-Signer Story"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"1742\" class=\"elementor elementor-1742\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b4ecea6 e-flex e-con-boxed e-con e-parent\" data-id=\"b4ecea6\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1d7ac8d elementor-widget elementor-widget-hfe-breadcrumbs-widget\" data-id=\"1d7ac8d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"hfe-breadcrumbs-widget.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<nav aria-label=\"Breadcrumb\"><ul class=\"hfe-breadcrumbs hfe-breadcrumbs-show-home\"><li class=\"hfe-breadcrumbs-item hfe-breadcrumbs-first\"><span class=\"hfe-breadcrumbs-home-icon\"><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-home\" viewBox=\"0 0 576 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M280.37 148.26L96 300.11V464a16 16 0 0 0 16 16l112.06-.29a16 16 0 0 0 15.92-16V368a16 16 0 0 1 16-16h64a16 16 0 0 1 16 16v95.64a16 16 0 0 0 16 16.05L464 480a16 16 0 0 0 16-16V300L295.67 148.26a12.19 12.19 0 0 0-15.3 0zM571.6 251.47L488 182.56V44.05a12 12 0 0 0-12-12h-56a12 12 0 0 0-12 12v72.61L318.47 43a48 48 0 0 0-61 0L4.34 251.47a12 12 0 0 0-1.6 16.9l25.5 31A12 12 0 0 0 45.15 301l235.22-193.74a12.19 12.19 0 0 1 15.3 0L530.9 301a12 12 0 0 0 16.9-1.6l25.5-31a12 12 0 0 0-1.7-16.93z\"><\/path><\/svg><\/span><a href=\"https:\/\/tpbn.net\/alakra\"><span class=\"hfe-breadcrumbs-text\">Home<\/span><\/a><\/li><\/ul><\/nav>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-132fd04 elementor-widget elementor-widget-sina_post_featured_image\" data-id=\"132fd04\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"sina_post_featured_image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t<div class=\"sina-post-featured-img sina-bg-cover\" style=\"background-image: url(https:\/\/tpbn.net\/alakra\/wp-content\/uploads\/2026\/01\/car-loan-co-signer-1110x550-1.png);\">\r\n\t\t\t\t\t\t\t<\/div><!-- .sina-post-featured-img -->\r\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9521f02 elementor-widget elementor-widget-text-editor\" data-id=\"9521f02\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<div class=\"wpb_text_column wpb_content_element vc_custom_1645403047413\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element  vc_custom_1645403426121\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element  vc_custom_1645403426121\"><div class=\"wpb_wrapper\"><p>Knowing your credit situation when we explain it in detail helps when you hear this lie. Some shady car salesman\/ finance manager may tell you a co-signer will be necessary to purchase a vehicle. This situation usually arises when a consumer has a slow credit history and a low-paying job. Instead of rejecting your application, a dealer will look for someone in your family to purchase the car. In other words, they are looking for a buyer, not a co-signer. They will say you need a co-signer and make that person the primary owner rather than a guarantor. They will tell you this for a few months and will remove the cosigner from your auto loan and you will be on your own! In fact, this is quite a big scam!<\/p><p>This is when a customer tries to qualify for a car loan but does not have the credit history to do so. The salesperson will ask the customer if they have a family member or friend, with good credit who will help them buy the car, or cosign.<\/p><div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-7fb44d6\" data-id=\"7fb44d6\" data-element_type=\"column\"><div class=\"elementor-column-wrap elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-85273e0 flex-horizontal-align-default flex-horizontal-align-tablet-default flex-horizontal-align-mobile-default flex-vertical-align-default flex-vertical-align-tablet-default flex-vertical-align-mobile-default elementor-widget elementor-widget-text-editor\" data-id=\"85273e0\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>When the cosigner gets to the dealership, the salesperson may tell them they\u2019re only signing with the buyer as a reference, only to help the signer establish their credit. This is not true.<\/p><p>The person cosigning believes they\u2019re helping out a close friend or family member buy a car while helping them build and re-establish positive credit history.\u00a0 The actual buyer is unknowingly removed from the loan and the cosigner becomes the sole buyer. The cosigner is now left with all the responsibility of repaying the loan and the actual buyer ends up not building any credit history or gaining anything from the transaction.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"vc_row wpb_row vc_inner vc_row-fluid vc_custom_1452700243026\"><div class=\"wpb_column vc_column_container vc_col-sm-6\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-6bae32b\" data-id=\"6bae32b\" data-element_type=\"column\"><div class=\"elementor-column-wrap elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-ca1f5ad flex-horizontal-align-default flex-horizontal-align-tablet-default flex-horizontal-align-mobile-default flex-vertical-align-default flex-vertical-align-tablet-default flex-vertical-align-mobile-default elementor-widget elementor-widget-text-editor\" data-id=\"ca1f5ad\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p><strong>How the cosigner scam works:<\/strong><\/p><p>Just like most car-buying scams, there are several different<br \/>variations of how the cosigner loan scam is committed on unsuspecting<br \/>car buyers.<\/p><p>1)\u00a0 In some cases spot delivered by the dealership<\/p><p>The most common is when a car dealer knows upfront your credit history is so bad, there\u2019s no way you\u2019ll qualify for a car loan on your own. The dealer will lead you to believe you\u2019ve been approved and everything is great. They\u2019ll have you sign the contract and paperwork and let you take delivery of your new car.\u00a0 This is also a spot delivery in the retail car sales industry. You\u2019ll leave the dealership believing you bought a car and go about your life. After a few days, you\u2019re called back by the dealer and told your financing fell through. You either need to bring the car back or find a cosigner with great credit to go on the loan with you\u2026 If you find a cosigner, you\u2019ll have to go back to the dealership and resign the paperwork. This is where you will be susceptible to the next two scenarios.<\/p><p>If you can\u2019t produce a cosigner. The dealer will either try to switch you to a cheaper car you can qualify for on your own, or you will be sent home on the \u201chush puppy express\u201d<\/p><p>2)\u00a0 The actual buyer is removed from the car loan<\/p><p>This technique also works when the car dealer knows, up front, there\u2019s no way the actual buyer can be on the car loan no matter how good the cosigner\u2019s credit is.<\/p><p>The dealer will deliver the car with both you and your cosigner on the contract. The dealer will allow the car to be driven by you for a few days, or longer, in hopes that you will not want to give the vehicle back.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"wpb_column vc_column_container vc_col-sm-6\"><div class=\"vc_column-inner\"><div class=\"wpb_wrapper\"><div class=\"wpb_text_column wpb_content_element \"><div class=\"wpb_wrapper\"><div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3a05fb7\" data-id=\"3a05fb7\" data-element_type=\"column\"><div class=\"elementor-column-wrap elementor-element-populated\"><div class=\"elementor-widget-wrap\"><div class=\"elementor-element elementor-element-852e501 flex-horizontal-align-default flex-horizontal-align-tablet-default flex-horizontal-align-mobile-default flex-vertical-align-default flex-vertical-align-tablet-default flex-vertical-align-mobile-default elementor-widget elementor-widget-text-editor\" data-id=\"852e501\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\"><div class=\"elementor-widget-container\"><div class=\"elementor-text-editor elementor-clearfix\"><p>After a week or so the dealer calls and explains to you they were unable to get the car loan approved with you on the loan. However, they were able to get the car loan approved using only the cosigner\u2019s information and credit history.<\/p><p>The dealer is hoping enough time has passed and you\u2019ve \u201cfallen in love\u201d with the vehicle. The dealer is also hoping you will pull on your cosigner\u2019s \u201cheartstrings\u201d to sign for the car on their own so the dealer won\u2019t take the car away from you.<\/p><p>3)\u00a0 Signing multiple contracts and the paperwork shuffle<\/p><p>Last but not least is having you and your cosigner sign multiple sets of paperwork. The finance manager will have you sign a contract and a set of paperwork by yourself and then have the cosigner sign their own contract and paperwork also.<\/p><p>The finance manager may have both parties sign the title application or other fake forms for show and effect. Signing the title app will make it appear you\u2019re on the title and registration and you\u2019re legit. However, you will not get any positive credit, just parking violations.<\/p><p>To keep you or the cosigner from complaining or threatening a lawsuit because you\u2019re not on the car loan at a later date. The finance manager will not give any copies to you, the buyer, and run any documents signed by you through the shredder as soon as you take delivery of the car.<\/p><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div><\/div>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-66919bc e-flex e-con-boxed e-con e-parent\" data-id=\"66919bc\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\n    <div class=\"xs_social_share_widget xs_share_url after_content \t\tmain_content  wslu-style-1 wslu-share-box-shaped wslu-fill-colored wslu-none wslu-share-horizontal wslu-theme-font-no wslu-main_content\">\n\n\t\t\n        <ul>\n\t\t\t        <\/ul>\n    <\/div> \n","protected":false},"excerpt":{"rendered":"<p>Home Knowing your credit situation when we explain it in detail helps when you hear this lie. Some shady car salesman\/ finance manager may tell you a co-signer will be necessary to purchase a vehicle. This situation usually arises when a consumer has a slow credit history and a low-paying job. Instead of rejecting your [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1746,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-1742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/posts\/1742","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/comments?post=1742"}],"version-history":[{"count":10,"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/posts\/1742\/revisions"}],"predecessor-version":[{"id":2223,"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/posts\/1742\/revisions\/2223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/media\/1746"}],"wp:attachment":[{"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/media?parent=1742"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/categories?post=1742"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tpbn.net\/alakra\/wp-json\/wp\/v2\/tags?post=1742"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}