If you're not bothered enough that people were doing this in the first place, take a look at the new numbers.
There's been a 28.9 percent increase in the number of parents asking their kids to co-sign for car leases, thanks to stained credit reports that prevent these grown-ups from looking like adults at the signing table, according to LeaseTrader.com. They blame everything from foreclosures to unemployment to tight credit conditions.
"Each day people find a way to cope with the effects of the housing situation and recession that damaged their credit status," said Sergio Stiberman, CEO and founder of LeaseTrader.com. "So many of these customers have been turning to their children for help."
On average, people who co-sign with kids are taking over lease payments under $399 and less than 18 months on the contract. The company didn't say how many come across more hardship and ultimately sacrifice their kids' clean credit for their own ride. But hey, in lieu of an inheritance, might as well pass something down to the next generation.
This story posted by LeaseTrader.com, the automotive service company that lets people transfer out of their Car Leases early. If you're looking to swap a lease or transfer out of your car lease, please visit www.leasetrader.com