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Yes. That's the idea.

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โˆ™ 2010-09-09 12:26:13
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Q: Is a cosigner of an auto lease obligated to pay the lease?
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Related questions

What can be done to a cosigner if a loan is not paid?

The consigner is obligated to pay the loan off


Can you get out of a lease in Florida if you become unemployed?

No, you are still obligated to pay your rent for the term of the lease


What are the benefits of a cosigner?

A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.


What responsibility does a cosigner on an apartment lease have?

a cosigner is a person who is responsible for the rest of the rent that you don't pay if u get evicted the person who signed as a cosigner will have to go to court


Are you legally responsible to pay back the cosigner who signed for you on a rental lease?

No not unless you have an agreement that you had to pay the rent.


What are the benefits of cosigning?

A cosigner basically is a guarantor for the repayment of a loan or value and serves as cosigner of the debt. If the debtor fails to make payments or defaults, the cosigner is obligated to pay off the debt. No benefits for the cosigner, but cosigner benefits the debtor.


Why pay hoa fees if renting a condo?

If you own a condominium that you rent, you remain obligated to pay your assessments. If you rent a condominium, you may be obligated to pay assessment through the terms of your lease.


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

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


Can you get auto financing if your credit is not perfect?

Yes, even if you have less than perfect credit there are options for auto financing. Majority of the time you can pay a larger down payment and have smaller monthly payments. Also you can have a cosigner with good credit to sign with you to lease a car.


Does a cosigner have to pay the rent when tenant dies suddendly?

I'm pretty sure the cosigner doesn't have to pay it. If the tenant dies suddenly, I wouldn't think his/her family would be obligated to pay the rent, because I'm sure they would move everything out when the tenant dies.


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.


What are the risks of cosigning a lease?

The risk of cosigning on a lease is that the cosigner is responsible for the rent for the leased property even if the other signers do not pay the rent. The landlord can go after one or all of the cosigners on a lease to get rent paid if the lease is not paid for the full term.

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