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It will be up to the financial institution that is giving the loan as to whether the co signer can live in another state and still sign. Some lenders will not allow this as they need to be able to get in contact with the borrowers easily.
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∙ 9y ago
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Can the cosigner demand that the car remain in the same state where he or she resides?
No, a cosigner does not have any legal rights to the vehicle, but does have the legal obligation to repay the debt if the primary borrower defaults on the contract. An exception could be if the cosigner is also named on the title to the vehicle, and if so, how the title is worded.
Does a cosigner have rights to the car even when its paid off?
No, the cosigner will not have rights to the car after its paid off because the purpose of a cosigner is to pay off the notice if you fail to do so. Being a cosigner does not give them to any rights to the car.
If the cosigner for a car loan lives in a different state but cannot travel can the dealer travel to them to get the cosigner forms completed?
U.S.Mail or Fax and a Notary Public is all you need.
How bad does it affect the cosigner's credit if the borrower has the car voluntarily repossessed?
It has the same effect on the credit.
If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?
If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?
Can your daughter be on your car insurance if you are not cosigner on her car loan?
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
What are the consequences if a cosigner on a car loan sells the car without the permission of the other cosigner?
Possible fraud charges.
Can someone garnish a cosigner for a car and garnish the primary also?
In the State of Texas, the answer would be "YES" as both parties signed for the car loan and both are responsible for the balance due. I was the primary signor but the cosigner had the car and was making the payments. Then she stopped making payments after owning the car for 3 years and the car was repossessed.
Can a finance company repo YOUR car if YOU are not behind on YOur payments in Washington state?
If you are up-to-date then no, if you are a cosigner there may be complications...
Does the cosigner have to drive the car?
No, the cosigner signs on to the loan. Usually, the primary signer owns the car and drives it. The cosigner is there in case the loan goes into default and needs to be paid for. After they sign on the car does not belong to them, but the person who took out the loan.
Your name is the first name after the leasing company on the title your cosigner is trying to take your car you've made all your payments on time can they force you to give up your car?
I had this very same instance come up and the police were called. They told me that as long as the payments were being made and you have proof of you making the payments on time, the cosigner has to leg to stand on when trying to take the car. So NO your cosigner can not take the car.
If a cosigner has been making payments on a car at what point can they legally have the car seized and put in their name?
That would depend on the repossession laws of your state of residency. Or if different, the state where the loan was procured for the vehicle.
