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You co-sign for a vehicle are you liable to pay the remaining balance of that vehicle if it was auction by the lien holder?
Wiki User
∙ 16y ago
You are jointly liable with your other co-signer. The finace company can, and will, come after both of you.
Wiki User
∙ 16y ago
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When you cosign can you send the car back and pay the depreciation value so it won't reflect badly on your credit?
No. When a vehicle is repossessed either voluntarily or by the lender, it must be sold at public auction for the fair market value or as close to that amount as possible. Any deficiency between the sale price and the loan balance will be the responsibility of the primary borrower and/or cosigner.
When someone is a cosigner on the loan of your car does that mean he owns any part of it?
when you cosign on any kind of loan you dont have to pay anything unless the person you cosigned for does not pay the loan, then you are responsible for that the remaining balance on the loan
Can you cosign for a car if you do not have a license?
Yes. The ability to legally operate a vehicle is not a prerequisite for ownership of one.
What is the cosign of pi?
The cosign of pi is -1
Is there a way that you can get off from cosigning a car and have someone else COSIGN?
No. The only way to change co-signers is to refinance the vehicle.
How many time can you cosign a car?
how many times can someone cosign a car
What are your rights if you are a primary borrower of a vehicle and the seconday borrower is not paying the loan?
If the secondary borrower is not paying the loan, you must take the vehicle back from the secondary borrower before the bank takes back the vehicle and ruins your credit. You will learn from that not to cosign a loan.
What happens if you cosign a car loan and the other party then files bankruptcy but secures the loan and will it be on the cosigners credit report or effect it?
The car lender would repossess the vehicle and sell it off, if there is a remaining deficiency, then the lender can go after the co-signer to be paid (so yes it would negatively effect the co-signer's credit rating)
Your ex cosigned car lease How do you remove her from lease without losing vehicle?
You can have another person cosign for that person. As long as your the primary you wont need her to get her off the lease.
Can I cosign for my boyfriends vehicle?
If you are credit-worthy, you may be able to co-sign for your boyfriend's vehicle. But be aware that if he fails to make payments for any reason, you are liable for the debt and the creditor will come after you and possibly file suit against you. - I wouldn't do it.
Cosign lease extension?
To cosign a lease extension means to become legally responsible for the lease agreement alongside the primary tenant. This includes agreeing to uphold all terms and obligations of the extended lease period as a form of guarantee for the landlord in case the primary tenant is unable to fulfill their responsibilities. It's important to understand the implications and commitments involved before agreeing to cosign a lease extension.
Do you have to be a relative to cosign?
no.my father cosigned for me,but the bank told me that anybody could cosign..good luck to you.
