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Answered 2007-03-01 17:08:07

You insure a vehicle. The buyer. The only thing the cosigner is responsible for is paying the bank back the money it loaned if the buyer doesn't. The principal driver of the vehicle who should also be the buyer.

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No, a co signor would not be liable. A co-buyer would be liable.


Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.



if you have a good cosigner then all that matters is their credit and work history... if you renage on the deal they go after the cosigner


Daughter and husband are getting divorce and she is the co-buyer can she take it out of state



Easy, you can check your own credit report OR go to a registries office and do a quick search. A simpler method is to ask the person that is the primary borrower/buyer or call the lender. Either a cosigner or co-buyer can be listed on the title depending upon the agreement made by the persons involved. The title to a vehicle determines ownership, a cosigner generally has no vested interest in the property only the responsibility of the debt.


Nope, once you sign, the car is yours. You can still pay the loan for the car without insurance.


In my state you only need to have Liability insurance the get a title and register the vehicle. If, however you have a loan on the car the lender will require you to have full coverage.


Both have a problem and the car will be picked up by the bank.


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 and only IF, you are listed on the TITLE as co-owner, you can go get the car. CO-SIGNORS have to let the lender do it their way.


When a person finances a car, proof of insurance is required, a buyer has about 24 hours to let his insurance company know about his car. In the event that car buyer stops making insurance payments the finance company is almost immediately notified and your car finance agreement charges the buyer a higher monthly payment for "single interest" insurance. That is where the finance company is reimbursed if vehicle is damaged, to protect their interests but not the buyer's. They can then at least get it fixed, and sell to someone hopefully more responsible. They have this stuff all figured out.


If you are buying the car outright then it's up to you to decide when to get the insurance. If you are getting credit, you will have to have the insurance in place prior to taking possession of the vehicle.


At the time of the loss the named insured on the policy and the title holder has to be the same (or family) for the insurance to be proper. If a 40 year old male sold his vehicle to a 18 year male, and the insurance was kept in the name of the 40 year old person, there might be a problem paying for a claim, especially in situation where there was an accident involving the 18 year old, regardless who paid for insurance.


If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?


Not where I live in Ohio. My mother co-signed a car for me, and her name didnt have to be on the insurance, as long as the vehicle carried full coverage insurance in my name.



That is an issue between the mortgage company, the buyer and the cosigner. The seller's only worry is selling the property and getting paid.



No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for the debt.


Only if it's still being driven while waiting on a buyer


The cosigner on an automobile loan is not the person who has to pay for insurance on the vehicle. The registered owner should pay the fees for insurance. However, it is the cosigner's responsibility to make sure the registered owner is carrying insurance for the vehicle.



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.



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