Legal Question in Consumer Law in New York

Co signing

My friend wants me to cosign for a vechicle. If i co sign, is it possible that i can make a sub contract between me and him, stating that if something ever happened to him, causing him not to keep up with payments,someone else will have to take responsiblilty of the co signer?

There will be my signature, owner signature and the other person designated to be sub co signer


Asked on 4/14/07, 10:29 am

1 Answer from Attorneys
Johm Smith tom's

Re: Co signing

Your "sub-contract" won't stop the car dealer for wrecking your credit. Don't cosign for anyone unless you know you can take control of the car and afford to pay for the whole thing on your own. You must have an idea how many times this type of arrangement ruins relationships.

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Answered on 4/14/07, 11:10 am


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