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What happens if the second signer hasn't made a payment in 9 months and is hiding the car?
Wiki User
∙ 16y ago
Nothing is mentioned here about the 1st signer of the car loan ... wonder what happened to that person. Let's assume that the 1st signer has skipped the payments and left it to the 2nd signer who has now not made payments for the time specified above.
Ok - why hide a car that nobody can ever drive ... this is absolutely nuts ... the debt on that car is still owed no matter how long one decides not to make the payments. Hiding the vehicle could amount to being arrested for Grand Theft Auto, which means prison time and lots of very stiff fines. Then the person has an arrest record, a prison record, and a stolen car hidden away with tires rotting away, and gasoline in the tank that is aging (eventually gasoline will lose its ignition properties) that can't ever be driven on any public roads.
Minimally, the 1st and 2nd signer could be prosecuted for non payment of an agreement they both signed and agreed upon with the lender.
Wiki User
∙ 16y ago
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