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∙ 17y ago
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If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the vehicle?
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
Does the cosigner on an auto loan have to be on the insurance policy?
By co-signing the loan, they are guaranteeing that you will repay the loan. They do not need to be on the auto insurance policy, but it would be in their best interest.
Cosigner need insurance?
The cosigner on an automobile loan is not the person who has to pay for insurance on the vehicle. The registered owner should pay the fees for insurance. However, it is the cosigner's responsibility to make sure the registered owner is carrying insurance for the vehicle.
If the cosigner is refusing to refinance or pay the auto loan off how could the primary person on the auto loan remove his or her name?
They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.
Can you be seventeen and have a cosigner cosign for an auto loan?
i was able to get an auto loan with the help of a cosigner and im under 18
After cosigning on an auto loan and that car is traded in are you still the cosigner on the new vehicle?
No. You are only cosigner on the one vehicle you signed for. All bets are off once the car is traded.
Can the primany buyer of an auto loan refinance the auto loan in the cosigner's name only?
No. The cosigner would have to apply for a loan in their name using their credit, income data.
Do you have to get a cosigner after you already purchased the vehicle?
Co-signers are only asked to help you qualify if you have not been approved for the auto loan.
What is the insurance liability for the cosigner of an auto loan?
None. A cosigner is entering into a legally binding contract to repay the debt if the primary borrower defaults on the lending agreement. The cosigner does not have any other obligation nor ownership rights to the property.
What does it mean to have a guarantor on an auto loan?
A cosigner- someone who agreesto pay the loan if you default
Can your daughter be on your car insurance if you are not cosigner on her car loan?
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
