Co-signers are only asked to help you qualify if you have not been approved for the auto loan.
Not unless you sold it back to them.
Nope.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
A cosigner of a vehicle loan is typically equally responsible for the debt if the primary borrower fails to make payments. However, the cosigner does not have ownership rights to the vehicle unless specifically stated in the loan agreement.
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
Only if the cosigner is also named on the vehicle title.
You can sue anybody for almost anything today. Now, if you can win or not is the question. Talk to a lawyer or at the very least your state attorney general.
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
The cosigner is not able to come and obtain your vehicle for personal reasons or any other reason. A cosigner is not claiming ownership of your vehicle, they are simply vouching for your credibility and agreeing that if payments aren't made that they will uphold the responsibility.?æ
No, it is not possible to buy a cosigner for a car. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. They cannot be purchased or hired.
No. A cosigner is just responsible for paying it off if the negligent driver wrecks it and and can't work to make the payments.
Yes, a cosigner can register a car, but they are not the primary owner of the vehicle. The cosigner is responsible for the loan if the primary owner fails to make payments.