Tips on Buying Cars: Two friends?, two friends, car loan

Question
Is it possible for two unmarried people to purchase a car together? IN NYS to be specific if that makes a difference...

Answer
Hi Kristen,

Absolutely!

However, if you're financing, I would suggest that you use great care when entering into a financial agreement with someone you're not married to.

Especially if you're co-signing behind someone to help them qualify for a car loan. If they stop paying the payment, you're on the hook for the loan.

Good luck and I hope this has helped,

Doug