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If you co-sign a car loan, are you liable for accidents that occur while the borrower is driving the vehicle?
Yes, if you co-sign 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 or damages that occur while they are driving the car.
If you cosign a car loan, are you liable for accidents that occur while the borrower is driving 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.
Can the primary borrower on a car loan take the vehicle away from you?
YES IF YOU DO NOT FOLLOW THROUGH WITH YOUR AGREEMENT.
Is there any way a cosigner can get his or her name off of a car loan?
The only way to be relieved of the obligation is for the primary borrower to refinance the vehicle.
What is the process for purchasing a vehicle with the assistance of a cosigner?
When purchasing a vehicle with a cosigner, the process involves the cosigner agreeing to take on responsibility for the loan if the primary borrower is unable to make payments. Both the primary borrower and the cosigner will need to provide financial information and undergo a credit check. If approved, the loan will be in both names, and both parties will be legally responsible for repayment.
If you co-sign a car loan, are you liable for accidents that occur while the borrower is driving the vehicle?
Yes, if you co-sign 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 or damages that occur while they are driving the car.
If you cosign a car loan, are you liable for accidents that occur while the borrower is driving 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.
What are your rights if you are a primary borrower of a vehicle and the seconday borrower is not paying the loan?
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.
Can the primary borrower of a vehicle take it away from the co borrower?
Yes, the primary borrower of a vehicle can take it away from the co-borrower, as they are usually listed as the primary owner on the loan agreement. However, this may lead to legal and financial complications, especially if the co-borrower has been making payments or has a claim to the vehicle. It's advisable for both parties to communicate and resolve any disputes amicably or seek legal guidance if necessary.
Does the cosigner have to pay the bill for vehicle if the primary borrower doesnt pay?
Yes!
Can a co-signer who is named on the title take possession of the vehicle from the primary borrower in Oklahoma?
Not arbitrarily, the co-signer would need to sue the primary borrower and be awarded the vehicle or the money owed to complete the loan agreement.
Who is held responsible for the loan on a repossessed vehicle?
The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.The borrower. If there was a co-signer, that person is also fully responsible for paying the loan if the primary borrower defaults.
Can the primary borrower on a car loan take the vehicle away from you?
YES IF YOU DO NOT FOLLOW THROUGH WITH YOUR AGREEMENT.
What type of error or factor is the cause of accidents?
Distracted driving is the leading cause of motor vehicle accidents.
What if the primary borrower files bankruptcy is the cosigner still responsible for making payments on the vehicle Can the co-signer take their name off the vehicle?
A Co-signer is always responsible for the item unless the primary borrower refinances and removes the co-signer. Unfortunately if the primary borrower filed bankrupcy it doesn't seem likely they will be able to refinance. Yes. Cosigner means that if for ANY reason the main borrower cannot pay, cosigner will be responsible to pay.
Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
If the primary borrower in Colorado is not defaulted on the payments can the co-signer take possession of the vehicle?
The only way that a co-signer can take possession of the vehicle is if they are listed on the title as a co-owner. Even if they are a co-owner, they cannot just take the vehicle. They would need to sue the primary borrower in court to gain possession.
