Who purchased the car, is named on the bill of sale and needed a co-signer to close the deal? In whose name is the car titled and insured? The primary borrower is usually listed as the owner on those documents. However, some prudent co-signers may insist that their name be also listed.
If you aren't sure who is the legal owner of the car then you get better informed- sit down and speak with the company who insures the vehicle and make certain that everything is in order and you understand the transaction.
I got a car loan and got some to co sing for me why is there name listed as the bower and not me
Why is the cosinger listed as the bower and not me on my car loan
If you are late on your loan payment and are a cosigner on your daughters car can they repposses 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.
Possible fraud charges.
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
If you owe money on a car loan or are a cosigner for a car loan, yes.
Some who has character My Friend it is very difficult to get car loan with no credit and no cosigner although you have to contact some good car lenders in your area they can guide you better.
yes
Yes.
The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.
You select a cosiger have good credit history is big qualification for car loan.
Yes.