None. A cosigner is entering into a legally binding contract to repay the debt if the primary borrower defaults on the lending agreement. The cosigner does not have any other obligation nor ownership rights to the property.
Yes
By co-signing the loan, they are guaranteeing that you will repay the loan. They do not need to be on the auto insurance policy, but it would be in their best interest.
i was able to get an auto loan with the help of a cosigner and im under 18
You are required to have liability insurance on any vehicle. The lender may require you to have full coverage as a loan condition.
No. The cosigner would have to apply for a loan in their name using their credit, income data.
A cosigner on an auto loan is equally responsible for the loan and has the right to access information about the loan, such as payment status and account details. They also have the right to receive notifications about any changes to the loan agreement.
To obtain an auto loan with a cosigner, you typically need to meet the lender's credit and income requirements. The cosigner must have good credit and be willing to take on responsibility for the loan if the primary borrower fails to make payments.
To hire a cosigner for an auto loan, you need to find someone with good credit and income who is willing to guarantee the loan if you are unable to make payments. Approach potential cosigners and discuss the terms of the loan with them. Once you have found a willing cosigner, apply for the loan together with their information included.
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
A cosigner- someone who agreesto pay the loan if you default
No, the refinancing without the consent or knowledge of the original cosigner created a breach of the original lending agreement and the cosigner is no longer legally obligated for 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.