If I am a co-signer of a car can they garnish my wages?

Answer 1

The short answer is yes. When you co-sign on a loan "YOU" are guaranteeing that if the 1st doesn't pay, you will.

As whether to co-sign for someone is a very personal decision based on many facters; daughter, son, brother sister, real good friend, etc. In my 6 years selling cars I found in almost all cases that family and friends were the first to screw you. BTW!

In the case of my own daughter, I refused to co-sign for her. She was angry at me!!! Then, as I new she would, filed Bankrupcy at 23 years old. She is now 34 and still hasn't shown responsibilty for her debts. For the end of the story, I bought her a van for $5000 and drove it from Pensacola, FL to Madison Wisconsin and flipped her the keys and said," It's gift, now get a job."

Just be dead sure of someones ability AND perpensity to pay. These 2 words are very different from one another.

Hope this helped

Paul