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Is the cosigner of a vehicle responsible for the negligent operation of the vehicle?
Wiki User
∙ 12y ago
No. A cosigner is just responsible for paying it off if the negligent driver wrecks it and and can't work to make the payments.
Wiki User
∙ 12y ago
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Is a cosigner's spouse responsible for the loan if he dies?
No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
Who has to have insurance on the car the cosigner or the buyer?
You insure a vehicle. The buyer. The only thing the cosigner is responsible for is paying the bank back the money it loaned if the buyer doesn't. The principal driver of the vehicle who should also be the buyer.
What if the primary borrower files bankruptcy is the cosigner still responsible for making payments on the vehicle Can the co-signer take their name off the vehicle?
A Co-signer is always responsible for the item unless the primary borrower refinances and removes the co-signer. Unfortunately if the primary borrower filed bankrupcy it doesn't seem likely they will be able to refinance. Yes. Cosigner means that if for ANY reason the main borrower cannot pay, cosigner will be responsible to pay.
Cosigner repo a vehicle?
If you are a co-signer of a repossesion, and the primary borrower has not made an attempt to make their payments then you are fully responsible for this debt.
As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?
Nope.
Is the buyer still responsible for buying a vehicle if the cosigner refuses to sign?
The primary borrower is always responsible for the debt if he or she has signed a valid lending agreement. It would seem logical that if the lender required the primary to have a cosigner and the named person refused to take on that responsibility then the transaction would not occur.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the vehicle?
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
What are your rights after barely backing into a motor home on private property parked in a reg space with very minor damage?
None, private or not, fact is you hit the home and are responsible for any damages incurred to the motorhome, you were negligent in the operation of your motor vehicle. What would you "honestly say if it were your Motor home? Hmm~
Who is responsible for a vehicle damaged in your garage which was hit by an unknown vehicle?
since other (or negligent party) vehicle is 'unknown' then the collision coverage on the damaged vehicle will be the policy to fix this car.....(yes you will have some type of deductible)....homeowners policys typcially exclude everything about auto...
Can a bank repossess if the borrower defaults and there is a cosigner on the vehicle?
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
