Auto Loans and Financing
Repossession
Car Selling
Co-signing
What is co buyer?
Wiki User
2006-07-11 20:59:26
An individual who purchases a vehicle jointly with a Buyer, and
is jointly liable for repayment of the loan.
Related Questions
Asked in Auto Insurance
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.
Asked in Repossession, Co-signing
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.
Asked in Auto Loans and Financing, Repossession, Co-signing
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.
Asked in Repossession, Personal Finance, Loans, Money Management
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.
Asked in Auto Loans and Financing, Repossession, Co-signing
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.
Asked in Car Buying, Auto Loans and Financing, Repossession, Co-signing
If co-buyer has possession of a vehicle and has all financial resposibilities who is entitled to the vehicle buyer or co-buyer?
both buyer and co buyer --- Typically, in disputes like this,
possession is factored into the legal decision. It is likely
whoever has possession at the time of court findings will
prevail.
Asked in Car Buying, Auto Loans and Financing, Repossession, Co-signing
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.
Asked in Business & Finance
Can the buyer do a vol repossession without the co-buyers permission?
A buyer can do a voluntary possession without the permission of
the co-buyers if that buyer is the sole owner of the vehicle. If
the co-buyers are also co-owners, they would have to give consent
first.
Asked in Auto Loans and Financing, Repossession, Co-signing
Can the buyer of a car legally repossess the car from the co buyer if the co buyer has made all payments?
If they are a co owner on the reg, they have as much right to it
as you-essentially, neither one of you can keep the other from
using it paid for or not.
Asked in Repossession, Mortgages, Home Equity and Refinancing, Home Buying
Can you take out a home equity loan without permission from co-buyer?
it depends on who the co-buyer is if it is your husband or wife
then you can ask and they will most likely say yes. but no
Asked in Cars & Vehicles
What rights does a co buyer have to a vehicle?
The co-buyer of a vehicle has equal rights to the vehicle if
there name is on the title. The co-buyers rights can be defined by
a written or verbal contract.
Asked in Auto Loans and Financing, Repossession, Co-signing
How does primary buyer repossess auto from co-buyer who is hiding car?
Call the police and tell them that the co- buyer is not agreeing
to the terms of use of the car when said car was bought.
Asked in Auto Loans and Financing, Repossession, Co-signing
What is the difference between the buyer and co-buyer?
Nothing. They are just two people saying they will be
responsible for the loan. The difference is where you sign on the
contract. Legally there is no difference. The co-buyer by signing
is saying that they will insure the loan gets paid. If the loan
does not get paid the co-buyer can have wages garnished and
basically get the wrath of someone else not doing what they are
supposed to.
Asked in Cars & Vehicles, Auto Loans and Financing, Repossession, Co-signing
What if a buyer has secnd thoughts that differ from the co buyer?
Right up until the point when the contract is signed, the buyer
can change his or her mind, and what the co-buyer thinks about it
is an issue for the two of them to work out.
After the contract is signed, it's pretty much too bad for the
buyer if he or she has "second thoughts".
Asked in Car Buying, Auto Loans and Financing, Co-signing
Does a co-buyer and co-signer have equal weight as far as credit?
Both the co-buyer and the co-signer get equal credit. Regardless
of who is on top of loan. Also hurts equally if not paid.
Asked in Repossession, Definitions, Twitter
Does co-owner and secondary owner mean the same thing for the purpose of repossession?
YES, owner/buyer/maker:::co/owner/co/buyer/co/maker....anyone
else is 3rd party possession....
Asked in Chevy Malibu
Buyer want all rights to vehicle from co buyer?
The only way to get all rights back from the co-borrower is to
have the loan refinanced. The co-borrower will have to agree to
remove their name from the car.
Asked in Co-signing
Is the co signer the same as the co buyer?
No. The co-buyer has an ownership interest in the property. The
co-signer does not and only guarantees the loan will be paid. The
co-signer is equally responsible for paying off the loan if the
primary borrower fails to pay.
No. The co-buyer has an ownership interest in the property. The
co-signer does not and only guarantees the loan will be paid. The
co-signer is equally responsible for paying off the loan if the
primary borrower fails to pay.
No. The co-buyer has an ownership interest in the property. The
co-signer does not and only guarantees the loan will be paid. The
co-signer is equally responsible for paying off the loan if the
primary borrower fails to pay.
No. The co-buyer has an ownership interest in the property. The
co-signer does not and only guarantees the loan will be paid. The
co-signer is equally responsible for paying off the loan if the
primary borrower fails to pay.
Asked in Co-signing, Mortgages, Real Estate
Who will own the propertythe buyer or co-buyer when the loan is paid off?
The deed supersedes the loan.
Asked in Co-signing, Auto Loans and Financing, Repossession
Can estate take car away from buyer if co-buyer dies?
No. Not if both names were on the Certificate of Title. The
surviving co-owner would own the car.
Asked in Car Buying, Personal Finance, Loans, Money Management
Can the co-buyer have their name removed from the title once the loan is paid off?
Yes, the co buyer can have their name removed from the title.
You can go to the title office and have it removed.
Asked in Insurance, Auto Insurance
Does a cosigner need to be on car insurance?
In most cases these days, when people think they are a
Co-Signer, they are in fact a Co-Buyer. If you are a co-buyer then
by default you are a co-owner. In the event of an accident both the
driver and the owner(s) can be sued for incurred losses.
To determine this just look at the vehicle Title or
Registration, If your name is there, you are in fact a co-buyer and
co-owner.
Unfortunately, there are many car lots and salesmen out there
these days who do not clarify this to the buyer(s) and allow you to
think you are only co-signing when you are not. There is a Huge
difference in the two terms where your legal liability is
concerned
If you are truly a Co-signer, you would not need to be on the
policy.
.
Asked in Auto Loans and Financing, Vehicle Titles
Who has rights to the title buyer or co-buyer?
It depends on whose name or names are on the title. A co-signer
of a loan isn't necessarily an owner. Their name must be on the
title to the property also. The person or persons who are listed on
the title have ownership rights in the property.
Asked in State Laws, Small Claims
In California State what are the legal rights of ownership for a vehicle between a primary buyer and a co buyer when the primary buyer becomes delinquent on a payment?
Unknown what is meant by the term "co-buyer." Are you referring
to a "co-signer" of the loan?
In such a transaction the only entity that actually OWNS the car
is the lender. The borrower is allowed to POSSESS the car only so
long as the financial obligation to the lender is met and
current.
If the buyer stops paying, the lender will turn to the co-signer
for the money, but just because the principal buyer stops paying
doesn't automatically mean that the possession of the vehicle
passes to the co-signer.
Whatever interest the co-signer has in the car is a matter of
agreement between him and the buyer of the car. The co-signer does
not necessarily have any legal rights to the car at all.
The lender doesn't care who actually HAS the car in their
possession just so long as they are paid the money that is due
them.