Should You Cosign a Car for a Neighbor in Need?

Should You Cosign a Car for Your Neighbor?

The Get Unfiltered segment sparked intense debate as a listener grappled with a tricky moral dilemma. Her neighbor, a single mom of five kids, asked her to cosign a car loan to help transport her kids to school and activities. The listener wanted to help but worried about the risks. Should she cosign, or would giving the neighbor money for a down payment be a better move?

Callers didn’t hold back, offering a mix of strong opinions and wise advice. Many cautioned against cosigning, with one caller warning, “It’s a problem that could follow you forever.” Another caller shared their own regrets about cosigning in the past, noting how it damaged relationships and credit scores. The overall sentiment? Cosigning is a huge risk that can lead to unwanted financial and emotional consequences.

Others suggested alternative ways to help. One caller advised giving the neighbor a one-time financial gift or loan, with the condition that repayment (if any) be properly documented. Another round of practical advice included recommending used car options on platforms like Turo or from local sellers offering budget vehicles. “You don’t need to put your credit on the line—there are other ways to help,” one caller said.

Above all, listeners emphasized the importance of protecting personal finances and setting healthy boundaries, even when the desire to help is strong. Helping someone should never come at the expense of jeopardizing your financial stability.

Dominique the Diva summed up the debate perfectly as she closed the segment by saying, “It’s okay to help—but it’s also okay to say no at the same time! Balance is key.” What do you think? Would you cosign for someone, or would you find another way to assist? Keep the conversation going on social and share your thoughts!