Katharina Buczek
This 33-year-old woman has a younger brother who’s 28 and wants to buy a luxury car. The only problem is that he can’t get approved for a hefty loan by himself, so he asked her to co-sign for him.
According to her, her brother can definitely get a cheaper vehicle. Yet, he believes that buying a fancy ride will help him in his work, making him look more successful and giving a better impression.
“He says it’s important because he needs it to ‘meet the right people’ and ‘make connections’ for his career,” she explained.
“He doesn’t need this flashy car to get around, but he’s convinced it’s somehow going to change his life.”
However, her brother doesn’t have a great credit score, meaning he won’t get approved for such a large loan on his own. That is precisely why she’s been dragged into the situation.
Her brother really wants her to co-sign the loan, and she’s simply not comfortable with the idea.
She would obviously like to help him out if she could, but she also has her own finances to think about. Not to mention, if her brother couldn’t make the payments on time, she’d be on the hook for a huge amount of debt.
This doesn’t seem that unrealistic to her, either, since her brother has never been very responsible with his money.
“He’s already had a few bad financial decisions, so I’m kind of expecting him to fall behind on payments eventually,” she admitted.
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