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Is co-signing on a lease the same as co-signing for a car loan?
Wiki User
∙ 15y ago
It is essentially the same but of course with a lease, your responsible for an amount agreed to be paid rather than paying back a loan.
Wiki User
∙ 15y ago
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How do you get your name removed from cosigning a car lease?
Until the lease is satisfied or the vehicle surrendered, you can't. You guarantee the loan if the primary cannot pay for it.
How does cosigning for a car loan affect your credit?
No.
What do you need to co-sign for a car in Florida?
There is not a strict set of requirements for cosigning. You will need to be over 18 and the lender will need to believe you are a good credit risk. This is based on your credit score. You should be concerned with the obligations cosigning a car loan will create for you. See the Related Link for "Experian: Advice on Cosigning a Loan" for info on this.
What do you need to co sign for a car in Florida?
There is not a strict set of requirements for cosigning. You will need to be over 18 and the lender will need to believe you are a good credit risk. This is based on your credit score. You should be concerned with the obligations cosigning a car loan will create for you. See the Related Link for "Experian: Advice on Cosigning a Loan" for info on this.
Is it a better deal to lease or buy a car?
Usually buying a car outright is a better deal if you can pay upfront without a loan. If you do need a loan, then depending on the deal you get for the loan vs. the lease it can be a better deal to lease, but not usually.
Your husband is not on your car lease loan will he be held responsible if you do a repo?
no
How can you be a co-owner of a car?
By being a cosigning to a loan for the car. If one of you fails to pay the debt the other will still be obligated to make payments. Of course the actual owner will be the person taking out the loan but that is as close as you can get.
Can you Lease a car from someone with a loan on the car?
No. In my experience and from what I've read, it is not wise to lease a car from someone with a loan. They can still be held responsible for the car if anything happens to it. If you cannot afford to make the payments and the bank comes to collect the car, and the owner does not have it, they can be arrested.
Does a car lease show up on your credit report as debt you owe?
yes it does because when u get approved for a car lease, they use the same verification as if you were buying a car. They check the three main credit bureaus which are transunion ,experian,and equifax.
Is there a difference between a term business car lease and a commercial auto lease, or are they one and the same?
A car lease is an individuals person lease for their car. A commercial car lease is the lease for a commercial vehicle which are used for businesses.
Can you co-sign to lease a car and then get a lease for your own car?
Yes, you just have to remember that you will need sufficient credit to take on a second loan. Even though you are technically not the purchaser, you are still on that lease as responsible for that car in the event your buddy fails to pay. Your second loan/lease will definitely take this into consideration, along with your credit history and score.
After cosigning on an auto loan and that car is traded in are you still the cosigner on the new vehicle?
No. You are only cosigner on the one vehicle you signed for. All bets are off once the car is traded.
