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What is co buyer?

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โˆ™ 2006-07-11 20:59:26

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An individual who purchases a vehicle jointly with a Buyer, and is jointly liable for repayment of the loan.

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โˆ™ 2006-07-11 20:59:26
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Related questions

Can the co-buyer insure a car?

Yes the co-buyer can insure the car because basically its saying that the co-buyer has ownership in the automobile as well as the buyer.


If a co-buyer is on the contract and is making the payments does the co-buyer receive the credit points or does the buyer?

Both the co-buyer and the buyer get the credit and the blame if the loan is not paid. Co-signing on the loan is the same as getting the loan.


Can buyer and co-buyer be the same person?

No.


Does a co buyer have rights to the auto loan payments?

The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.


If there is a buyer and co-buyer and the buyer does not want the auto can the co-buyer take over the loan because the buyer gets all the credit?

The co-buyer should contact the LENDER and ask to have the buyer removed from the loan. Nothing can be done legally without the LENDERS approval.


Can a primary buyer have a co buyer removed from an auto loan if the co buyer was never needed to get the loan?

That will be up to the LENDER.


If the buyer hasent made any payments over a car and the co buyer has. What are the co buyers rights?

The co-buyer can sue the buyer in court and provide proof of payments and be repaid the amount put in.


What rights do the co buyer have if the primary buyer pays the car off but the co buyer has made all payments before that?

none


Does buyer pay co buyer personal tax?

YES


Is the co-buyer responsible for the loan if the buyer dies?

yes


Can a co-buyer move out of state with car?

A co-buyer can move out of state with car as long as car payments are current. The co-buyer should update the new address with the lender.


If the buyer stop making payment will the co-buyer or the buyer be responsible for the loan?

yes

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