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ANYONE who's name is on the loan contract is responsible for the debt. Who will sell someone a car and that someone NOT be responsible for paying?? NOT ME LOL

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โˆ™ 2015-07-15 19:12:03
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Q: If two buyers are listed on car contract but no co-signer is listed will second buyer be responsible in repossession?
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Related Questions

How do you know if you are a cosigner or co owner?

A "Cosigner" is a "Co-owner." Cobuyers and buyers are equally responsible for the note they signed.


Can a cosigner get out of a used car contract in the first 3 days?

No, the buyers remorse law does not apply to the purchase of a new or used vehicle.


If you are a co-borrower not a cosigner are you responsible for repayment of the loan?

Yes, a co-borrower is as responsible for a debt as is the primary borrower. The main difference between co-buyers and cosigners is that a cosigner generally does not have any claims to the property in question but bears the responsibility of repaying the debt should the primary borrowers default on the agreement.


When may a buyer cancel a contract?

This question is specific to the buyers contract, you should reference that document to answer this question.


Can the buyer do a vol repossession without the co-buyers permission?

A buyer can do a voluntary possession without the permission of the co-buyers if that buyer is the sole owner of the vehicle. If the co-buyers are also co-owners, they would have to give consent first.


Is winning a bid at an auction a contract?

Yes, it is a contract. You agree to pay the price, plus the additional buyers fee when you bid.


What tasks do buyers agents perform?

Buyers agents represent the buyers in real estate transactions. They work for the buyer in locating desirable properties, negotiating the best possible sales contract and looking after the buyers interests throughout the buying process.


Can a 19 year old with buyers remorse void a new car sales contract in NC?

Plain and simple; NO.............. You are considered an adult, so you can not void the contract.


Can you return your car to the dealership after you signed a contract?

Yes, the dealer can cancel the contract but it is within 10 days of the date on the purchase contract.


What is a mortgage buyer?

A "mortgage buyer" when referring to a private real estate note, would be a real estate investor who will purchase private mortgage notes for cash. These investors are also sometimes referred to as note buyers, promissory note buyers, land contract buyers and deed of trust buyers.


How long do i have to cancel a contract in new York state?

On the purchase of a vehicle you cannot cancel the contract as the Cooling Off Period or Buyers Remorse law does not apply to the purchase of a vehicle. You signed the contract and are legally bound to honor it.


What language could wellington have added to its contract with Northeast to ensure that it was apprised of the reputation of any proposed buyer?

Wellington is a long line name of companies, i not familiar with the northeast contract or buyers.


Does Florida have a right to cancel a contract to purchase a used car.?

If you are asking is there a cooling off period or buyers remise law in Florida on the purchase of a used car the answer is no. Once you sign the contract you are legally bound to that contract and it cannot be cancelled unless the seller agrees to that cancelation. The Buyers Remorse or Cooling Off Period laws do not apply to the sale of a new or used vehicle in any state.


Does Virginia have buyer's remorse laws?

Under the Virginia buyers remorse laws, consumers have 3 days to cancel a health club contract. This law does not apply to any other type of contract.


What is a blanket purchase agreement contract?

It is an contract between one or more buyers and one ro more supplier to estimate the amount of items to be delived at the rigt the price and at the the right place agreed


What is a cooling off period on credit agreements?

Generally you have a few days to change your mind. It is called buyers remorse. Check your contract.


Are you obligated to pay your realtor a fee if you buy a home for sale by owner?

Yes, if the agent is a Buyers agent and you have a signed contract with the agent.


Can you lease purchase a home without co-buyers consent?

No. To execute a valid contract it needs to be signed by all the owners.


What are the remedies of buyers and sellers in a contract of sale?

there are two general remedies to an unpaid seller which include; Real remedies and Personal remedies.


Can you return your car if you got it from a buy here pay here?

No, you cannot just return the vehicle. The buyers remorse law does not apply to automobiles. You can of course return it as a voluntary repossession, which would be a horrible idea.


How many days do you have to cancel a car contract in Ohio?

None! Once you purchase a vehicle and sign the contract you cannot cancel the contract or return the vehicle. The buyers remorse or cooling off period laws do not apply to the purchase of an automobile in in the state. This is a myth that simply will not die.


Does Pennsylvania have a buyers remorse law a consumer has 3 business days to cancel a health club contract?

Yes, but a health club contract is defined as having a term greater than 3 months. A 3 month contract or less does not give you the right to cancel.


When do you have legitimate grounds to fight a repo deficiency lawsuit?

I dont know about the "grounds" BUT any changes to a CONTRACT have to be approved by BOTH parties to the contract. Did either/both of your "buyers" get approved by the LENDER to assume your contract? Some contracts are NOT assumable as written by the lender. Even if they did get approved to assume, they still have to wait for the lender to do their oart. Could it have been impatience on the part of the "buyers"? Best you should call a local attorney for a consultation ASAP.


If a person was to overdoes on a drug should the dealer be responsible for killing the user?

no because it is the buyers responsibility of what he/she buys and smokes or abuses.


Is it possible to remove a secondary cosigner from a car loan?

Co-signing is all about CREDIT. If the buyers credit has improved enough or the buyer has paid enough on the loan to have EQUITY, the lender might remove the co-signor. Its up to the LENDER.