Yes, the qualification for a co-signer is their credit record, not their driving record. In fact, it's perfectly legal to buy a car in most (all?) of North America without a licence at all.
Cosigning on a loan has nothing to do with having a drivers lincense. You are just agreeing to pay the loan if the primary person does not. You are not driving the car. The only thing a lender is interested in is your ability to pay the loan.
Yes, a person without a job can cosign on a car loan. However, the person must have great credit before they can cosign.
how many times can someone cosign a car
You need a lisence to drive the car, but not to cosign a loan.
Yes. The ability to legally operate a vehicle is not a prerequisite for ownership of one.
For the length of the contract you sign. If you cosign on a 3 yr loan, you are responsible for the debt for 3 years.
If you are a minor, you cannot LEGALLY cosign or sign any loan/contractual agreement.
Yes, someone on the social security can be able to cosign for a loan. The person cosigning the loan however has to have good credit regardless of his availability on the social security benefit.
You need to ask a mortgage agent.
ok Should not be a problem. A car loan is about credit, not driving.
The cosign of pi is -1
You can cosign but both names will be on title.
You would be responsible for the note or loan you co-signed for.
Depending on the state you must at least cosign.
you can always get short term loans or try high intrest ones usually all they would have to do is to make sure your a resident and approve you.
To cosign a loan is to guarantee payment if the borrower fails to pay.
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
No. It doesn't come off until the loan is paid and if the person who is getting the loan doesn't pay you will owe for the loan. When you cosign it also goes on your credit report.
Whether he lost his licence doesn't matter. What matters is that he is making money and is able to pay if you default on the loan. It also helps if he has good credit.
If you're not 18 you're not legally able to enter into a contract.
No. The only way to change co-signers is to refinance the vehicle.