THE VEHICLE WILL BE SOLD. IT IS USUALLY THE HIGHEST OF THREE BIDS AND THE AMOUNT IS OFTEN BELOW WHAT THE AUTO IS WORTH. THIS AMOUNT IS DEDUCTED FROM THE BALANCE OF YOUR LOAN. THE AMOUNT THAT IS LEFT OWING WILL HAVE TO BE PAID,IF YOU DO NOT PAY,YOUR COSIGNER IS RESPONSIBLE FOR THE BALANCE OWING. GOOD LUCK ROD.
No. You should have paid more attention to what you were signing.
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.
Yes, the cosigner can register the car if they are listed on the title and have the necessary documentation.
If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?
Yes, a cosigner can register a car, but they are not the primary owner of the vehicle. The cosigner is responsible for the loan if the primary owner fails to make payments.
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
Possible fraud charges.
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.
No, it is not possible to buy a cosigner for a car. A cosigner is someone who agrees to be responsible for the loan if the primary borrower fails to make payments. They cannot be purchased or hired.
A cosigner can attempt to sell the car at anytime. However, in order for them to sell it, they have to have the other signer's signature.
There is not much you can do. You could try to get a loan through a credit union or loan company, but the dealership can do this if your loan requirements were not met when you bought the car. Since you need a cosigner my guess is your credit is not good or you don't have enough. Your options are get a independent loan, get a cosigner, or return the car. *********************************************************** There's not much you can do except pay it off. If the lender does not feel comfortable that you, the borrower, can service the debt; then he is within his rights to require a co-signer for the loan. If you default, then it falls upon the co-signer to pay the debt off. Co-signers are notorious for getting burnt on deals like this.
yes.