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typically the first name on the loan is the person responsible for the payment of that account. if the first named person cant make the payments, the loan company will turn to the co-signer ( 2nd name ). if neither party makes payments the loan will go into default in which both parties will have reports on there credit history.
What else can I help you with?
Is the spouse responsible for the car loan?
In general, if the spouse's name is on the car loan agreement, they are responsible for the loan. If the loan is in one spouse's name only, that spouse is solely responsible for the loan.
How long is the co-signer responsible for a car loan?
Typically for the duration of the loan.
Can my wife cosign a car loan for me?
Yes, your wife can cosign a car loan for you. This means she is agreeing to be responsible for the loan if you are unable to make payments.
Who is the primary borrower on the car loan?
The primary borrower on a car loan is the person who is responsible for repaying the loan and whose credit history is used to determine the loan terms.
Can I be listed on a car title without being responsible for the loan?
No, being listed on a car title means you have ownership rights to the vehicle, which typically makes you responsible for the loan associated with it.
Is the spouse responsible for the car loan?
In general, if the spouse's name is on the car loan agreement, they are responsible for the loan. If the loan is in one spouse's name only, that spouse is solely responsible for the loan.
Who is responsible when your car is being repossessed in Pennsylvania?
The owner of the car (person(s)) who took the loan on the car are responsible
How long is the co-signer responsible for a car loan?
Typically for the duration of the loan.
Can the car seller be held responsible for the car loan of the buyer?
ABSOLUTELY NOT
Can my wife cosign a car loan for me?
Yes, your wife can cosign a car loan for you. This means she is agreeing to be responsible for the loan if you are unable to make payments.
Is step mom responsible for stepsons car loans after husband dies?
The stepson should be the one responsible for the car loan. If your husband cosigned on the car loan, then you need to contact an attorney on this one.
Who is the primary borrower on the car loan?
The primary borrower on a car loan is the person who is responsible for repaying the loan and whose credit history is used to determine the loan terms.
The person you cosigned for on a car loan passed away am I still responsible for the loan?
Yes
Can I be listed on a car title without being responsible for the loan?
No, being listed on a car title means you have ownership rights to the vehicle, which typically makes you responsible for the loan associated with it.
If I cosign a car, will the car be in my name?
No, if you cosign a car loan, the car will not be in your name. You are simply agreeing to be responsible for the loan if the primary borrower fails to make payments.
Who is responsible for a deceased mother's car loan if the loan company is holding the title as collateral?
Nobody is responsible for the loan if there was on cosigner. If the car was inherited by someone, then that person has a right to pay the debt owed and take possession of the title.
Who is the primary signer on the car loan?
The primary signer on the car loan is the person who is responsible for repaying the loan and whose credit history is primarily considered for approval.
