What does "co-sign" mean?

What does "co-sign" mean?

James Bell (Publisher, Auto Reviewer) gives expert video advice on: Can I save money buying a hybrid vehicle? and more...

To co-sign on a loan would be basically sharing the burden with somebody else who potentially has a better or a more robust credit rating to cover for the deficiencies in the person who's buying the vehicle. So, maybe it is going to be a son or a daughter or a sibling who hasn't really established themselves with a great credit score yet, so the co-signor is able to come in and basically lend their name and their credit score as a justification or a proof that the person who's buying the vehicle will be responsible and keep up with their payments. Now, ultimately, if that person defaults, the responsibility falls onto the co-signor so you want to make sure that you choose your co-signor very carefully.