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Does the co-signer of an auto loan need a driver's license?


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Answered 2010-02-03 22:54:04

Hi

I saw your question I have decided to help people out due to the fact that I myself has been scammed twice by fake lenders in my search for a loan but at last I got a reliable lender that gave me the loan($60,000 USD) that I was in dire need of even with a bad credit. Hence I decided that I will refer anybody I come across to this God sent lender he is reliable and his terms are fair. You can get to him via his email address charles.lenders@gmail.com Please tell him that Deborah Kirk he gave out a loan to me even with a bad credit. I have search for a legit lender until I got him and I decided to help my fellow humans with this because there are a lot of fake lenders out there and I do not want any body to fall a prey please get to him and tell him that I referred you to him.

Thanks.

Deborah Kirk

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Related Questions

Can you qualify for an auto loan with no drivers license?

yes you can get a auto loan without a license but you can not get auto insurance with out one and you can't complete the loan closing without insurance.


Can you be seventeen and have a cosigner cosign for an auto loan?

i was able to get an auto loan with the help of a cosigner and im under 18


If you want to take out a loan and are in the process of getting your license will you be able to take out a loan with a cosigner?

You don't need a license to get a loan. Your credit rating will determine whether you need a cosigner or not.


Can you get finance for auto loan with a learner permit?

No you need to have a drivers license. It is illegal to drive a car without a drivers license and that is how the finance company looks at it.


What does it mean to have a guarantor on an auto loan?

A cosigner- someone who agreesto pay the loan if you default


Is the cosigner of an auto loan responsible for the loan if the loan was refinanced by the buyer without the knowledge or consent of the cosigner?

No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for the debt.


What are the qualifications of refinance auto loan?

In order to be qualified for refinance auto loans, most companies require that you be over the age of 18, that you posses a valid drivers license, you must be a current US Citizen, you must have a yearly salary of 26,000 or act as a cosigner, and you must have proof of a current auto insurance.


If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the 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 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


Are there legal options that a cosigner can use to be removed from an auto loan?

No, a cosigner can only be relieved of the financial obligation by a refinancing of the loan agreement without them being a participant.


Does the cosigner on an auto loan have to be on the insurance policy?

By co-signing the loan, they are guaranteeing that you will repay the loan. They do not need to be on the auto insurance policy, but it would be in their best interest.


Can a cobuyer refinance a auto loan and remove the buyer from loan?

Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.


If the cosigner is refusing to refinance or pay the auto loan off how could the primary person on the auto loan remove his or her name?

They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.


Can the primany buyer of an auto loan refinance the auto loan in the cosigner's name only?

No. The cosigner would have to apply for a loan in their name using their credit, income data.


How long does the co-signer have to stay on an auto loan?

A cosigner is obligated as long as the loan exisists. The loan must be paid off or refinanced into the primary borrower's name only to release the cosigner.


Putting a lien on your drivers license?

can a car loan company put a lien on drivers license


If you are getting your drivers license will you be able to take out a loan with a cosigner?

One has nothing to do with the other. The lender doesn't care if you have a license, he wants a cosigner because you don't have a good credit record. Just getting a DL says you are not quite old enough to legally borrow money unless you have COLLATERAL.


Can you cosign for a auto loan in Pennsylvania without ever having a drivers license?

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.


Does a cosigner need a driver's license?

You need a lisence to drive the car, but not to cosign a loan.


How do you get an auto loan without a license?

In general, one cannot get an auto loan without a driver's license (that loan will have been acquired fraudulently according to most auto loan contracts). A person can, however, co-sign someone else's loan without having posession of a driver's license.




Does it help to have a co signer for an auto loan if you have bad credit?

If you have bed credit, sometimes having a cosigner is the only way you can get an auto loan. The people who lend you the money so you can purchase the car want their money back with interest. If you have bad credit, they may think you will not pay them back. They may think your cosigner does not want his credit ruined and will pay them back. So, while they would not give you an auto loan, they would give you an auto loan with a cosigner who has good credit.


How do you get your name off of an auto loan that you cosigned on if other party cannot get another loan and has nobody willing to take over as cosigner?

A cosigner cannot be removed from the debt obligation except by a refinancing of the loan without the original cosigner's participation.


You are 16 can you get a auto loan with no cosigner?

Chances are unlikely. Unless, you have perfect strong credit and a lot of money


Can you switch the cosigner to the primary?

Yes, you can switch the cosigner to the primary on a loan. The way to do this is to have the loan refinanced.


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