On April 26, 2025, I agreed to co-sign on two vehicles for an especially close elderly friend and her husband. I was very clear that I was only agreeing to co-sign. At no time did I go to the dealership, nor did anyone from the dealership call me to review the loans or ask for my consent to run my credit as the primary borrower.
Instead, paperwork was sent to me by email for one vehicle, and for the second, the dealership's finance manager came to my home at night. He had me sign in the trunk of the vehicle, using the light from his phone, and told me I was signing as a co-signer. He did not explain the terms, did not disclose that I was being made the primary borrower, and did not leave me copies of anything I signed.
I later discovered:
14 hard credit inquiries that occurred on April 26, 2025 from multiple banks and credit unions.
Two vehicle loans in my name as the primary borrower (Addition Financial and Suncoast Credit Union), not co-signer as agreed.
A checking account opened in my name with Addition Financial.
Both vehicles titled and registered in my name.
A Progressive insurance policy opened in my name without my consent or knowledge.
My credit score fell from 800 to 651 in less than two months. This entire experience has been a nightmare. I want others to be very cautious when dealing with this dealership -- do not sign anything unless you are given full disclosure, loan terms in writing, and copies of every document you sign.
Never agree to co-sign without being physically present at the dealership, as a result you may wind up being the primary owner of two vehicles without your full consent or knowledge of being a primary owner and not just a co-signer. read more
