<prompt> Human: My son is in need of a new car and has the money for one, partly from an insurance settlement from the guy who hit him as well as money over the years from relatives and a bit he has saved. He has just under 10,000, which should be able to buy a meager, but decent car if we are careful. He starts at a community college this fall and has a part-time job that doesnt pay much. So, do we find a cheap car and buy it outright, or do I co-sign a loan for him to help build credit? Understand, if I co-sign a loan, hes handing me the money and Im making payments out of that. Yes, this is distorting the credit agencies concept of rating an individual, but Im ok with that.What are the downsides or concerns of co-signing a loan where Ive been given the money to pay it off?  <response>: I think you can get a better car than you are imagining for 10k. 