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When you cosign for a vehicle will it be on your credit report and therefore effect the cosigner when they attempt to make a major purchase in the future?
Wiki User
∙ 18y ago
Yes, all action on the part of the primary borrower will be reflected on the cosigner's credit report.
Wiki User
∙ 18y ago
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How can someone purchase a vehicle asap with really bad credit no money down and no cosigner?
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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.
Can a cosigner get out of a used car contract in the first 3 days?
No, the buyers remorse law does not apply to the purchase of a new or used vehicle.
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.
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.
Is the cosigner of a vehicle liable if the it gets repossessed?
Yes. That is the point of the lender asking for a cosigner. The cosigner will have a repossession showing on their credit as well as the primary lender.
Can a cosigner come and take your vehicle for personal reason?
The cosigner is not able to come and obtain your vehicle for personal reasons or any other reason. A cosigner is not claiming ownership of your vehicle, they are simply vouching for your credibility and agreeing that if payments aren't made that they will uphold the responsibility.?æ
Is the cosigner of a vehicle responsible for the negligent operation of the vehicle?
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.
Can a cosigner on an auto loan get insurance on the vehicle?
Yes
