Dont be a MORON.

The portrait nothing to do with the story. Just a man who lean on others.

A good buddy or even a brother can plead to you requested that the car he wants to buy will be under your name and the financial loan will be your responsibilities. My advice……..forget it.

In return he will reimburse you monthly oh the loan deduction. In this normal circumstance your buddy or brother had been blacklisted by the Financial Institution. He cannot obtain any loan from any Financial Institution. Dot forget that any traffic summon or any summon on the car will be directed to you because the name and the address of the car belong to you. The sole responsibility on the car belongs to you even though some other people are enjoying the car.

There is a case I came across, to avoid detection from his wife and family, third party was asked to take a car loan for his girlfriend. In return for a car he enjoys her. It is equivalent to servicing a PROSTITUTE at the expense of a third party.

What if the car meets with an accident and kills somebody? You will be in deep shit with the Authorities.To make things worst, the Driver is unlicensed.

What is that sounds? Stupid, isn’t it? For every action that you made you must always think of the risks involve. Never be short sighted. It is easy to say plain NO and solve the problem.

What if the actual Borrower does not reimburse you monthly? Your family budget can be disrupted and may lead to husband and wife upheaval. Relationship between buddy and brother will sour up. Your life can be haywire possibly lead to mental disability. Sometimes children can become victim and punching bags to release tensions. You cannot concentrate with your daily work to feed your family.

Assuming you want to terminate the car loan for whatever reasons, the balance of the loan is still your responsibility. Value of car depreciate, who is to pay the loan balance? Only genuine buddy or brother will take responsibilities. He can turn around and say the car and the loan does not belong to him even though he has been enjoying the luxury of the car. You cannot say anything because you had fallen into his trap. You cannot even take your buddy or brother to Court.

In this world don’t ever trust anybody. Not even your siblings. When money is concern you can be sweet mouth and promise the heaven. Eventually when they get what they want they can give you hell.

An unreasonable buddy or brother is an IDIOT and you being stupid to fall into this kind of trap are a MORON.