Tips on Buying Cars: Friend co-signing for car loan, co signer, steady employment

Question
Hello.  I'm a little ashamed to ask this question, but I really need some advice.  I am in need of a new car.  I don't have anything to put down, I don't have the best credit in the world (I have 2 credit cards that are at their limit with the total of both together being close to or less than $3,000 and I have had times when my bill payments were late), BUT I can make payments and I have very steady employment.  Previously, I had a boyfriend that co-signed for a car loan with me.  He never once made any of the payments, that was all for me to make.  My car, my payments.  I just needed a little help to get it.  Now I need a little help again.  I was wondering if you thought it would be possible to obtain a loan with a co-signer that I don't live with, and also, if this was a good idea in general.  I really need a new car very badly.  I was thinking that perhaps paying the friend $50 a month, in addition to of course making my car payment, might be a good incentive and a gesture of good faith?  Please, if you have any advice on how I might want to move forward, I would greatly appreciate it.  Thank you very much in advance for your assistance.

Answer
A co-signer doesn't have to live with you in order to be a co-signer, they just need to have good credit.  They're responsible for making the payments if you no longer can, so it's a big responsibility; frankly, you have everything to gain (a new car), and they have everything to lose (their good credit rating).  For you, it's a GREAT idea, but it can be tough finding someone that's willing to co-sign.  You need to approach someone that knows you well, someone that knows you'll make the payments and not jeopardize their credit rating.  When asked to co-sign, I've always refused, because it's just too much of a gamble.  I've offered to contribute toward the down payment, or have bought the car myself and then had the person make the payments to me (cheap cars, under $2,000), but I've never co-signed a loan for anyone.  But then again, maybe I don't know enough honest people!  Bottom line, if you can get someone to co-sign a loan for you, go for it- you're the one that has nothing to lose.