The co-buyer is a person who is purchasing a vehicle with another person and will be equally financially responsible.

An individual who assumes equal responsibility for the contract. The account history will be reflected on the co-buyer’s credit history as well as the buyer’s. For this reason, consumers should exercise caution if asked to be a co-buyer for someone else. Since some co- buyers are eventually asked to repay the obligation, individuals need to be sure that they can afford to do so before agreeing to be a co-buyer.

Unlike a Co-Signer a Co-Buyer's income is combined with the Buyer's. This option is normally limited to a spouse or a person closely related residing at the same residence.