answersLogoWhite

0


Best Answer

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.

User Avatar

Wiki User

โˆ™ 2011-01-21 01:59:12
This answer is:
User Avatar
Study guides

Loans

26 cards

What is forfeiture

Which of these is the best description of delinquency

Which term is defined as property that is pledged as security on a loan

This is Paula's monthly budget What percent of her expenses is spent on insurance

โžก๏ธ
See all cards
2.33
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
3 Reviews

Add your answer:

Earn +20 pts
Q: How long does the co-signer have to stay on an auto loan?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

How long does a co signer stay on a student loan?

As long as the loan is in force (until the loan is paid off)


Can a primary be removed from a loan?

That will have to be arranged between the lender and the co-signor. The only way to remove anyone from a loan is to have the person being removed sign verifying that they want to be removed AND whoever will be left on (or added to) the loan must reapply for the loan on their own. This means, if the cosigner does not have good enough credit, then either the primary must stay on the loan or (if the loan is backed by collateral such as a car or house) then the collateral can be sold to a third party. In which case, of course, the primary and cosigner will be removed.


Can you get an auto loan as a stay at home mom with no proof of income?

NO. My wife went to auto dealer for new car and they said no auto loan can be approved without income. Either the spouse or relative/friend need as a co-signer.


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

From my understanding it is until the loan is paid off or the other party refinances the loan. If you haven't already co-signed I would rethink the decision. It is a nightmare if the person you are co-signing for doesn't live up to their end of the bargain, even if it is family.


How does a loan and a grant are different?

A loan you usually have to pay back and with a grant as long as you stay within the criteria to have it, you don't have to pay it back.


Can you remove A CO signer name after six months?

No, one can not remove a cosigner from any contract after 6 months. The cosigner will have to stay on the contract until the contract is paid.


Best student loans?

The best student loans to get are government student loans.Of the government loans, the best one is a Federal Perkins Loan. These have low interest rates and the government will help you pay it back as long as you stay enrolled in school. You also don't need a cosigner or good credit for it.The next best loan is a Federal Subsidized Stafford Loan. This has many of the same benefits as a Perkins Loan.Finally, the Federal Unsubsidized Stafford Loan is available to all students, regardless of financial need.


How long does an exclusion on a driver stay in effect with auto insurance?

An exclusion will stay in effect until you ask the insurance company to reverse the exclusion.


How long does an auto repossession and a home foreclosure after stay on your credit report?

NOTICE OF DROPPING PARTY DEFENDANT


How long does an auto accident stay on your driving record in North Carolina?

yes because she listened carefully


Can you get a loan for a house without a cosigner?

Plenty of homes are sold to individuals without a cosigner. Usually there are only 2 reasons a bank will ask for a co signer. One being, if their prospective client does not have sufficiant funds available to make the estimated mortgage payments and other monthly debt payments and stay under 50% debt to income ratio, two being credit issues.


How long does an auto accident stay on your auto insurance?

It depends, your best bet is to pay the money and get a lawyer at this point. No one wants to pay for damages anymore even if it was their fault.

People also asked