Opinions on a friend who asked for a Car Loan
Hi, just recently a close friend asked me to have a car loan for her which means she will be using the car and will be paying the monthly dues under my name, as her company does not provide her a letter to proceed with the car loan? Im not sure what are then pros and consequences of this? Will anyone please suggest any agreement between me & my friend so I will be in a safer condition? Thank you.
Unless you friend is willing to sign a legally binding contract witnessed by lawyers and surrender their passport to you until the loan is paid off, then don't even think about it.
Dear All, thank you for your opinions and advise. I appreciate it a lot and will pray to have enough courage to somehow refuse to grant my friend's request. Thank you, all.
NEVER TRUST A WOMAN WITH MONEY, THEY ARE SO NICE TILL THEY GET WHAT THEY WANT, THEN THEY SCREW YOU.
EVEN IF YOU ARE TRYING TO BANG HER, YOU WILL, BUT KEEP GIVING EXECUSES TILL U R DONE. HAHAHAHAHA
DO NOT DO THE CAR DEAL, U WILL REGRET IT LATER, JUST REMEMBER:
IN GOD WE TRUST, THE REST HAS TO PAY CASH.............
If you do that, your friendship will end!
I would strongly advise you not to lend her the money..
It is great risk for which you will be exposed for a long time until the monthly installment ends..you cannot predict what will happen..
- imagine if she got terminated for whatever reason?
- imagine if she did not pay for a month or two because of other commitments.
- imagine if she goes for vacation and never return which is common.
you have to remember that having a car is not a matter of life or death so it can wait.
if I have a good a friend asking me for the same I would say no, and if he is truely a good friend he would understand.
Choice is yours
My sincere advice to you is never get into such agreements which will not only put u in trouble but also spoil the relationship for which u r seeking this advise.
So best of luck
It will be a great risk you are taking if you agree to get the loan. First, the car will be under your name and you will be responsible for whatever accident or violations your car will be involved in even if you are not driving it. In case your friend will have some issues with her employer, then you will end up paying the loan yourself.
Let your friend rent a car if she cannot afford to buy one herself by cash. No headache for you whatsoever.