It will be just like if your car was repoed. Repo on your CR,ect. The lender will collect any balance due after its sold from YOU.
It's a repo on your credit, probably yours alone. This is referred to (buy lenders) as a straw purchase, if your brother's not a cosigner. People do this to get loans for friends and family who can't pass credit.
It has the same effect on the credit.
Stays on your credit rating for 7 years. Has a very negative effect.
Goes on your credit as a repossession.
Only if the dealer reports it to the credit bureaus.
If your name was on the note, yes.
Yes it can and will effect your credit
A car reposession will leave a major black spot on your credit rating for 7 years.
You end up with HORRIBLE credit if you don't pay your bills and you let your possessions get repossessed.
Repossessed cars may be purchased from many car dealerships some specialize in repossessed vehicles and others may have the occasional defaulted payment. Another great place to find repossessed cars is with a financial institution, there are many people struggling, taking credit, the car is often the first thing repossessed when the loan is called in.
No, because you have your own separate credit report.
Normally your credit is ruined for 7 years.