What do you do if you cosigning car loan on your car?
Proof of Your Cosigner's Ability to Pay
Your cosigner will probably be required to produce evidence of sufficient income and/or assets to cover the amount of the loan obligation, in the event you cannot pay.
2. Stability in Employment and Residence
Although not quite as strict a requirement as the others, many banks really like to see stability, in terms of employment and residence, for your cosigner. When looking at cosigners, They favorably view cosigners that have lived at one address for five or more years and have worked at their present job for a relatively long period of time.
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