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.
The insurance reuire by your lender.
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
To make the car payments. Just be glad you have the car too.
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.
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.
Both have a problem and the car will be picked up by the bank.
Nope, once you sign, the car is yours. You can still pay the loan for the car without insurance.
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.