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What happens to the cosigner's credit if you cosign for a car and get it off the lot but are unable to finish the necessary paperwork in time and return the car?
You have not bought the car, Untill the loan has A signature on it, All other paperwork is just to verify that you are willing to continue from that point forward. A carlot WILL tell you that you BOUGHT it, but the answer is NO....... Now with that said,when you take A car for ANY-REASON from A carlot, and use it, then bring it back without buying it, The carlot can charge you for several things, Like,,,,,,,,,mileage,depreciation,damage,time,and whatever else they can think of. This could be as high as, $300.00 for haveing the car overnight and putting 40miles on it.,,,,,,,,,,,,Good luck, Jamison.
What else can I help you with?
Will a cosigner's credit be affected if they cosign for someone who has a bad credit score because of a Chapter 7 bankruptcy?
The cosigner's credit will only be affected if the person that they cosign for defaults on the loan. The bankruptcy will not affect the cosigners credit.
Can you buy a car for your kid and they make the payments?
If you cosign the paperwork will come in your name and if they dont pay it comes back on you.
How many times can you cosign for a car?
There is no specific limit to how many times you can cosign for a car, but each lender may have their own policies regarding cosigners. However, cosigning multiple loans can impact your credit score and financial obligations. It's important to consider your financial situation and the potential risks before agreeing to cosign for multiple vehicles. Always check with the lender for their specific guidelines.
What happens if you cosign a loan and the other person dies?
yes
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)
What happens if you cosign a loan and the other person dies?
If you cosign a loan and the other person dies, you may become responsible for repaying the loan in full. It is important to carefully consider the risks before agreeing to cosign a loan.
How do I cosign for a car?
Cosigning for a car means agreeing to be responsible for the loan if the primary borrower cannot make payments. To cosign, you typically need good credit and a stable income. Contact the lender, fill out paperwork, and understand the risks involved before cosigning.
What are the steps for hiring a cosigner for a loan application?
To hire a cosigner for a loan application, you need to first find someone willing to cosign. Then, they will need to fill out the necessary paperwork and provide their financial information. The lender will evaluate the cosigner's creditworthiness and may require them to sign the loan agreement.
What is the cosign of pi?
The cosign of pi is -1
Can an American cosign a Canadian loan?
Yes, an American can cosign a Canadian loan, but it typically depends on the lender's policies. Some Canadian financial institutions may allow foreign cosigners, while others may require the cosigner to be a Canadian resident or citizen. It's important for the cosigner to understand their obligations and potential liabilities in the agreement. Additionally, the American cosigner may need to provide specific documentation, such as proof of income and credit history.
Can you cosign a car lease for me?
I am unable to cosign a car lease for you.
Are private student loan cosigners in danger if you default on other loans they didn't cosign?
OP here with more details: the private student loans they are cosigned on are current/paid on time, but other private student loans (with the same lender) are about to default. Can this in any way cause problems for my cosigner?
