When Maria co-signed on a car loan for her son Jaxon, she was essentially agreeing to take on joint responsibility for the loan alongside her son. As a co-signer, Maria was providing her financial guarantee to the lender that she would repay the loan if her son defaulted on payments. Co-signing on a loan is a common practice to help someone with limited credit history or a lower credit score qualify for a loan with better terms. By co-signing, Maria was helping her son secure financing for the purchase of a car, potentially enabling him to get a better interest rate or loan terms than he would have been able to obtain on his own. However, it's important to note that co-signing carries significant financial responsibility, as Maria would be liable for repaying the loan if her son failed to do so.
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