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You co-signed for your daughter to lease a car What are your responsibilities?
Wiki User
∙ 12y ago
to make sure she pays for it.
More explictly, "co-signing" a loan (of any type) means you are a loan guarrantier - you are equally responsible for the debt that the loan creates. It does NOT mean you have any rights to the item or use of the money that the loan finances; rather, you are legally committing to making sure the loan is repaid, either by yourself or your daughter (in this case).
So, you need to make sure that the loan is paid on time, or it will damage both your daughter's and your credit. If the loan defaults, then the loan originator (creditor) can legally demand payment from both your daughter and you for the outstanding sum of the loan.
Wiki User
∙ 12y ago
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If the primary borrower on a cosigned car lease dies. what happens to the car?
The person who's name is on the Title is the owner of the car.
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.
You cosigned for a lease The lease is up in 3 days but the person is refusing to turn the car back in What can you do to remove your name from the lease?
The dealer cannot renew the lease without your signature. Just don't sign it! To be doubly sure however, go to the dealer (don't call) and speak to the Leasing Manager (NOT the salesman) and specifically tell thm this! Then whatever happens after the lease expires is the respsonsiblity of the the person who actually possesses the car.
If you cosigned a leased car for your daughter and the car and insurance are in her name are you responsible as cosigner for any liability over the covered insurance amount in the event of an accident?
No. Y-THINK-Y * Ordinarily a cosigner would not be liable for anything other than the lending agreement. However, responsibilities incurred by all parties when a vehicle is under lease can be quite different than the purchasing a vehicle. It would be prudent for the cosigner to read the leasing contract very carefully and perhaps seek legal advice if they are unsure of the terms of the contract.
How can you get your name off of a car note you have cosigned on?
you and the party you cosigned have to talk to who you have the note with and they should be able to help you out
Can a cosigned car be taken out of state of Washington?
yes it can
Sister cosigned a car loan but they registered the car in her name is that legal?
Its half hers.
Is there a difference between a term business car lease and a commercial auto lease, or are they one and the same?
A car lease is an individuals person lease for their car. A commercial car lease is the lease for a commercial vehicle which are used for businesses.
What if your husband files bankruptcy and you have a leased car?
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Can you add a name to a car lease?
can a name be added to a car lease
Who pays the loan if a car is repossessed?
The one who BORROWED the money and/or the on who COSIGNED the loan.
Where can one compare car lease quotes?
One can compare car lease quotes at the website Lease Compare. Leases can also be compared at Car Lease Deals, Cars Below Invoice, Top Car Lease Deals and M oney Supermarket.
