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Whenever the lending institution wants one. Basically, if the primary applicant has no credit history, or a poor credit history, lenders may require that someone with a longer/better credit history cosign.

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14y ago

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Can a co-borrower of a car loan sign a pay agreement with a new car dealership to trade in the vehicle without the borrower's signature?

Nope, no way, abolutely not.


Would you be willing to co-sign a car loan for me?

I am unable to co-sign a car loan for you.


You co-signed on a vehicle loan and the other signature was forged what are your rights?

You should be more interested in your liabilities. If the other signature was forged then the loan is a criminal matter. You will need to explain why you co-signed a forged loan document and who took the money.


Does the cosigner have to obtain the primary's signature to trade in the vehicle?

yes, as co-signer you only guarantee the loan in case the primary defaults, they own the car.


Does a cosigner for a car loan need a valid driver's license?

Most lenders will allow a co-signer to sign for a car loan without a valid driver's license. However, some form of identification will be required to prove identity of the co-signer.


If you co sign for an auto loan and the person you co signed for is in an accident can you as the co signer be liable for injuries or damages?

No, you can only be liable for the loan. If the car was totaled and did not have insurance then you can be held responsible for the balance on the loan. Any accident or damages that occurred would be the responsibility of the driver/owner of the vehicle. All your signature did was say that you will pay the loan if the borrower fails to do so.


Can you get a car loan at 17 with a co-signer?

Yes, you can get a car loan at 17 with a co-signer who is willing to take responsibility for the loan if you are unable to make payments.


Can you have 2 co-signers on a car loan?

Yes, it is possible to have two co-signers on a car loan. Both co-signers are equally responsible for repaying the loan if the primary borrower defaults.


Can a co signer take over ownership of car loan and get insurance?

A co signer is for the loan, they do not have any ownership in the car unless they are on the front of the title. If they just co signed for the loan, that lmeans they will pay for it if the owner does not. Even if they paid the entire loan, they still would not own the car. To transfer the car, they would have to either pay the loan off or get a loan in their name and you sell the car to them.


If you have a car loan with a co-signer do you have to get the co-signer's signature to trade the vehicle in or sell it yourself?

Only if they are also on the title of the car. Call the Bank they will explain you what to do in certain situation. I got a same issue I called a bank and they offered me a back message.


How can you get a car loan with bankrupcty?

With a co-signer


Can a co-signer take over a car loan?

Yes, a co-signer can take over a car loan if the primary borrower is unable to make payments. The co-signer would then become responsible for repaying the loan.