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Can you cosign for a car loan for your child if you have a car loan now?
Wiki User
∙ 13y ago
As long as you have enough credit available yes. Just remember even if the payment is from another source, you are responsible and it eats into your available credit until it is gone.
Wiki User
∙ 13y ago
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Wife and you on car loan now divoced can you get off loan?
I am dealing with my own drama in a cosign arrangement. I have found that the only way to get your name off of the loan is to have her get a new loan through refinance.
The person you cosigned for an auto loan refuses to pay what do you do?
Contact the people who gave the loan. You are the next person they will look to for the money. When you cosign you are saying you will pay the loan if the other person doesn't, so now you owe. You could also take the signer to small claims court to get your money back if you end up paying for the loan.
What happen if you can not pay your car loan?
When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.
What can you do if your car is stolen and you still have a loan on the car but your insurance does not cover theft and they recover your car totaled?
YOU pay off the loan like you agreed to in the contract. You likely agreed to have ins. that covered theft also. You should have had full coverage on a car with a loan on it. Sorry, you have to pay the loan off and now you own a totaled car! Comprehensive coverage isn't that expensive and would have covered theft.
When a car loan company go out of business what happens to your loan?
You continue to pay it as normal because your loan is thru a bank not the actual company, if your financing thru there company then you should be going thru a bank now.
Who can garnish ssd checks?
i cosign for a car am on ssd the car was rep ode now there after me to pay the loan
Wife and you on car loan now divoced can you get off loan?
I am dealing with my own drama in a cosign arrangement. I have found that the only way to get your name off of the loan is to have her get a new loan through refinance.
Do you have the right to sell a car after repossession on a cosigned loan?
Yes, but only if you are the cosigner. When you cosign it is usually for these reasons: The person the loan is for is a minor The person has a poor credit rating The person doesn't have collateral When you cosign you are 100% responsible for that debt. All the banking institution is interested in is getting their money, so if the car was repossessed the cosigner has two options ... take over the payments or sell the car and hope it pays off the total loan. It's a smart thing to do so it doesn't ruin one's credit rating. If you aren't the cosigner, but the person the loan went too, shame on you! If you can afford to continue to make payments now, then you could have made those payments on the loan cosigned by someone who was nice enough to do it.
If bought a new car a few days ago with a car loan and now you have to leave the country what can you do to get out of the loan?
CALL the lender. they are the ones who can let you "come out" of the loan.
You cosigned a used car for your sister-in-law and the title came under your name now you want to get off from the cosign and you have no idea how?
You are stuck on the loan until it is payed off. You can talk to the loan company to try and get your name off of it however this will fail 99% of the time. Why would a loan company want to have only 1 person to go after for the debt when they have 2. Also if she defaults on the loan they will come after you first. Whoever has the best job/credit is who they go after for the money.
The person you cosigned for an auto loan refuses to pay what do you do?
Contact the people who gave the loan. You are the next person they will look to for the money. When you cosign you are saying you will pay the loan if the other person doesn't, so now you owe. You could also take the signer to small claims court to get your money back if you end up paying for the loan.
What happen if you can not pay your car loan?
When you don't make regular payments, your car will repossessed. Now if you had an upside down loan, you will still owe the lender.
If you cosign a mortgage now will you be affected when you refinance your house?
Yes. When getting approved for a loan, you have to fit into certain criteria. There is something called your Debt to income ratio. This ratio determines if you can afford the loan. If you co signed on a loan, that mortgages payment will go against your income for your debt ratio, and unless your making a lot of money it could ultimately hurt your chances of getting a loan.
Bought a car now told its on finance Am i the legal owner?
you took a loan to finace the car from the dealer- the bank holds the title to your car- you are the owner and respondsilbe to pay the loan or the bank or fiance companmy can reposses your car
If a mom co-signs a private student loan for her child and now wants to try and finance a car for herself is this going to affect her ability to do so?
Probably, but it depends on her income and credit rating.
If you cosigned for your girlfriend can you now buy a car if she's behind on her car payment?
It is going to depend a lot on your entire credit profile. If this is the only thing on your bureau it will be tough. If not, the best thing to do is to get her caught up. When you cosign, you are taking partial responsibility got that loan. If she is not making the payments, you need to do it for her. That's the point of cosigning. If you aren't willing to do that, don't cosign. Your best bet, unless you have a 660 score or higher with over 6 tradelines is to get her caught up. But there may still be a few willing to do it, depending on how far behind it is and how bad the payment history is. Kevin Freels Evansville, IN
I had a car that got repossessed and I was left owing a lot on the loan and then I got married. Is my husband now responsible for my past due loan?
No. Because the car was purchased prior to the marriage.
