No, the cosigner will not have rights to the car after its paid off because the purpose of a cosigner is to pay off the notice if you fail to do so. Being a cosigner does not give them to any rights to the car.
If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
Possible fraud charges.
No, the cosigner signs on to the loan. Usually, the primary signer owns the car and drives it. The cosigner is there in case the loan goes into default and needs to be paid for. After they sign on the car does not belong to them, but the person who took out the loan.
A cosigner can attempt to sell the car at anytime. However, in order for them to sell it, they have to have the other signer's signature.
The cosigner issue here is misplaced. The liability of a cosigner comes into play if the primary owner of the car cannot make payments. In the case presented, the primary borrower is doing fine. There is nothing a cosigner can do to take a car away.
I'am a cosigner on the car that I'am driving. I have the title but it is in my ex-husband's name and mine. Will the DMV in Mississippi let me register the car if he is not present?
Not unless the the cosigner is on the vehicle title. If not on the title the only entitlement the cosigner has is to pay the bill.
If you need a cosigner for the loan because of bad credit, it means you can't afford the car.
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
Some who has character My Friend it is very difficult to get car loan with no credit and no cosigner although you have to contact some good car lenders in your area they can guide you better.
Yes. If you signed the loan, you are still legally responsible for it.
It will appear on the CR of both parties.
They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.
No. You are only cosigner on the one vehicle you signed for. All bets are off once the car is traded.
No. A cosigner's only obligation is the debt incurred by signing the lending agreement.
You cant without the cosigners approval.