1. Personal credit is affected:

Because if you help others borrow money to buy a car, the loan is applied for in your name, so if others cannot pay it for a while, the bank will You will not go to the other party to collect the money, but will go to you directly to collect the money. And if you do not repay on time, your credit will be affected, and the overdue bad credit record will be recorded on your credit report.

2. You need to be held responsible if something goes wrong:

If you help someone else get a loan to buy a car, the vehicle nominally belongs to you. And if someone else is involved in an accident while driving a car purchased with a loan in your name, you will be jointly and severally liable. After all, if something goes wrong, the first person to be traced is the car owner.

It can be seen that the risk of helping others to buy a car with a loan is very high, so if a friend asks you to help him with a loan to buy a car, you must consider it carefully and it is best to reject his request. . Even if you decide to ask someone else to borrow a loan to buy a car, you must sign a good agreement with the other party and clearly stipulate the rights and obligations of both parties.