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Can a cosigner who is on the title of a leased car be sued for not paying any payments on the car when the primary leasee is paying off the loan?
Wiki User
∙ 17y ago
First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.
Wiki User
∙ 17y ago
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How do you register a leased car in NJ?
Even leased cars must be registered to the leasee. You must go to your local department of motor vehicles to have your vehicle registered.
Can a leased car be used as collateral?
Not really. There is no residual value assigned to the leasee, so there is nothing to foreclose on. At the end of the lease you have nothing.
Who is responsible for breakdowns on a leased vehicle?
The leasee is responsible, unless the vehicle is still under warranty and the problem is covered under said warranty
What if the leasee of a leased vehicle dies?
The answer depends on how the lease is written. If the lease payments stop then the company can choose to repossess the vehicle. If the family of the deceased and the company can reach an agreement then the family could take over the lease if all parties agree. as a death is involved an attorney may need to be involved.
What is the difference between primary and secondary lease?
I would think primary is the leasee and the secondary is a sub lease from the leasee.Not always agreed on by the leasor.
If I co-sign a car loan from my boyfriend will I be able to be removed as a cosigner ever?
i just searched this topic online because i cosigned for my bf's car loan today with honda... the way our was set up was that if he makes all his payments on time for the next 6 months, he has the option to refinance with himself as the only applicant and will take me off as the leasee... not sure what car company you're buying from but you should check about this
What do you call a person renting a building?
Leasee
Why are monthly payments usually higher when you buy a vehicle than when you lease a vehicle?
because when you buy it, it's yours. when you lease it, you give it back to the leasee. In the latter case you are just paying for the opportunity to use the vehicle.
What do you do if a leasee hides their car after defaulting on the payments?
what does WHO do after the lessee "hides" the car?? Me?? IF I'm looking for the "hidden" car, I ask the lessee where they hid it. If they say it was "stolen" I ride them to the local PD and help them file a STOLEN report. If you need more help, email me.
What is the correct spelling co-lessee or co-leasee?
co-lessee
Which term describes the person who pays money for the privilege of using someone else vehicle or property for a set period of time?
leasee
What are the benefits of having a lend lease?
"Leasing land instead of buying can have several benefits for business owners. It can take less capital investment to lease than buy. Leasing also gives the leasee more flexibility, in that if the business location is not a good fit, the leasee can choose not to re-sign the lease and move to a different location."
