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Do you need a loan if a friend is giving you a car not fully paid for?
Wiki User
∙ 12y ago
no you have still have to pay for your car that's what i had to do x
Wiki User
∙ 12y ago
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Does the co-signer of a car loan need income?
Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.
Why does antonio need a loan from shylock?
the reason why antonio need a loan from shylock was that he wanted to help his friend bassanio geting this girl name porsita
Assuming a loan payment from a friend what do you need to tell the lien holder bank do you need to qualify for their loan?
Yes. You need to go in with your friend and assume the loan so that it appears with your name on it rather than your friend. If you just take over payments without making it legal, then she can take the car when you are done paying it off and there would be no legal recourse.
Can you help me by giving me a collateral loan on my SUV Ford Escape. I need a collateral loan of about $6, 500 or so. I can pay it back within a 12 month period?
No I have no money to loan but you might get a personal loan at a bank. They are fairly easy to get.
You got a personal loan in your name and the money was to help a friend out the loan company wanted collateral friend put her car title up but defaulted I paid the loan in full and have her title?
Laws governing property differ from state to state. In general, however, you don't automatically own her car by paying off the loan. You would probably need to have made an agreement with the friend, verbally or better, in writing, at the time of the loan or at the point you began making the payments. If you didn't do that, you are probably out of luck. You can sue the friend for the amount of the payments you made or you can sue your friend for the car; I hope you have documentation of those payments, you will need something to show the payments you made.
What does a co signer need?
They need to be fully informed. They need to have enough resources to pay the loan if the primary borrower defaults. The bank will determine if the co-signer meets those financial requirements. Finally they need to be asked: Why are you willing to promise to pay someone else's loan?
What the difference between a best friend and a good friend?
You would willingly schedule time with a good friend. You would willingly cancel time with a good friend if your best friend was in need. You would loan a good friend a small sum of money. You would loan money to your best friend and not care whether you get repaid. You give of yourself to a best friend in the same way you would do for yourself - no reservation.
Do you need a credit card to have credit?
No you can build credit by taking out a loan and paying it back ON TIME. Or have someone cosign a loan for you in order to get approved for a card or loan but make sure the cosigner fully understands the agreement because they'll take on most of the risk.
Do you need your cosigner to sign when you refinance?
If you need a cosigner they must sign because a co-signer is a person who accepts responsibility for repayment of a loan, credit card or other debt along with the original borrower. However, if the institution giving you the new loan doesn't require a cosigner, you don't need to have the cosigner on your original loan sign anything.
How do you use the word giving in a sentence?
I am giving my friend a birthday present. Giving back to the community is important. She enjoys giving to others in need. The act of giving can be incredibly rewarding.
What the loan cosigner's responsibility when the loan is for a friend?
A cosigner's responsibility is to pay the loan in full if the primary borrower fails to pay. The connection to the primary borrower is irrelevant, whether it is a family member or a friend. You should never co-sign unless you can afford to pay your friend's loan. You should also note that when you are required to pay the loan as a cosigner (after the primary borrower defaults) your own credit may be ruined and you will be paying for property that you do not own. The default rate for people who need co-signers is high.
How can you make 235 fast?
take a loan, from a friend bank etc. if those arnt available then you need to put it in context. bills, present, what is it you need 235 for?
