Michael Petruccelli asks; What are some reasons you shouldn’t co-sign that loan? (5)

Michael Petruccelli says; You’ll have a hard time qualifying for any loan with a black mark that serious on your credit history. And if you do qualify, you won’t get the best (or even good) rates. For example, in the fourth quarter of 2011, the average interest rate on an auto loan was 4.54 percent for a prime borrower, according to Experian. Non-prime borrowers qualified for 6.34 percent on average, and sub-prime borrowers got 9.55 percent on average.

Not convinced? OK, if you’re going to co-sign anyway, at least heed this advice…