Plus
- Helps their credit too
- If ever towed, their name is on the vehicle (Wow I watch too much Everything Autos)
- Allows you to take a ‘special rebate’ on the other party’s name. (If your state has a limit one per person rebate.
Cons
- Yes you both have to sign, but with a broker that’s done at your house.
- If the car ever goes into Repo, both of you are screwed.
- If the other person allows a deadbeat to borrow the car, you have no recourse (a thread here about a broker putting his name and the deadbeats mom’s name on the car)
Quasi Legal
- Trying to put 2 people to do a strawman purchase which might hurt you later personally. (A side effect of Con #3)