You are jointly liable with your other co-signer. The finace company can, and will, come after both of you.
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 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
Yes. The ability to legally operate a vehicle is not a prerequisite for ownership of one.
The cosign of pi is -1
No. The only way to change co-signers is to refinance the vehicle.
Yes, if you cosign a car loan, you are typically not liable for accidents that occur while the borrower is driving the vehicle. The borrower is usually responsible for any accidents that happen while they are driving, unless there are specific circumstances that make you legally liable.
I am unable to cosign a car lease for you.
how many times can someone cosign a car
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.
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)
no.my father cosigned for me,but the bank told me that anybody could cosign..good luck to you.
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.