It is a great way to seem like you are doing someone a favor when you are setting them up to fail. Another big advantage is having family members with good credit that can cosign a loan for you. The first car I bought myself my dad let them do all the paperwork for the payments and the loan, then he came down and had them do it with him as a cosigner. The amount of interest I saved was fucking insane. That was the same thing his father did for him when he got his first mortgage. That money that you save, and the reality that your parents would make a payment if you were short which protects you from losing the investment is huge for a family to continue being able to maintain or move up in wealth all around. The fact that black people have been charged more on interest just because of their color, and the other problems that occur from prejudice effecting how parents can assist their children in acquiring family wealth and savings are hugely contributory to the problems facing their community wealth and well being. before anyone goes there I am fully blaming prejudice and racism because it incentivises black families to split up with their impoverished members rather than join up for more powerful communities of wealth.