I am extremely confused why the dealership had my dad sign as the primary buyer and me as the co buyer. I understand that we both have equal rights to the car and have an equal obligation to pay for this loan. I made sure to ask the guy not once, but twice if I was the buyer of the car , meaning that I would be responsible for everything, not my dad. He assured me that yes I would be the buyer. He neglected to tell me as a first time car buyer how this would affect my father if he signed on with me. It is only after my dad had issues with refinancing the house that he got denied because he signed on with me as a buyer of a vehicle. Please help me understand!


1 Answer 1


The basics are straightforward: whoever signs or co-signs for a loan commits to repaying the loan.

If the lender isn’t satisfied that you would be able to repay the loan yourself, they can reject the loan application. By having your dad co-sign, they have in principle a larger pool of money to back the repayment (your money and your dad’s money). Evidently, they were satisfied that the combined paying power was sufficient, and so they agreed to make the loan.

If you’re asked to have someone else co-sign and you don’t want to do that, you can reject the loan. But once signed, all the signatories are committed to the agreement. That’s the nature of agreements.

  • 5
    And we get posts here from dads, girlfriends, ex-girlfriends, moms etc. who get bitten by the fact that when the son decides there are more important things to spend their money on than a car loan, they are on the hook for paying.
    – gnasher729
    Mar 13, 2019 at 13:16
  • 1
    There are some technical issues with this answer, but it is close enough. The finance guys at the dealership do this so the loan will be acceptable to the underwriter.
    – Pete B.
    Mar 13, 2019 at 14:20
  • Thanks for all the help! Sorry about any editing errors. Mar 13, 2019 at 17:17
  • @BrianaGonzales That's ok. Hope things work out for your dad.
    – Lawrence
    Mar 14, 2019 at 0:04

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