missanne's Avatar
missanne 4
1 Asked
0 Answered
0 Best
0
No one has voted on this question yet :(
3 years, 4 months ago about How to Break a Car Lease

if you co-sign on a car and the person who is responible for the bill take the car back and get another
you

they paper work get transferred to another car without the cosigner being present is that legal
Tip for best answer: M$0.00
Separate topics with commas, or by pressing return. Use the delete or backspace key to edit or remove existing topics.

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

What is Your Answer?

0
0
0

2 Answers

0
pazaq's Avatar
pazaq | 3 years, 4 months ago
6
Well you can co-sign a loan and NOT have your name on the title. If your name is not on the title than it's most likely legal as they are the owner of the car. If your name is on the title regardless of whether or not your on the loan I believe it requires both of your signatures to sell it so then it would be illegal.

I'm not attorney, I don't pretend to be one. I just know that if your name isn't on the deed, title other legal document it isn't yours. :)
source(s):
Past life experience.

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

Report Abuse

Post Reply Cancel
0
ozark's Avatar
ozark | 3 years, 4 months ago
4
I guess it depends on where you are at. Around here if the loan is still open no matter what is used for collateral you are still responsible if the loan isn't paid. When you co sign a loan you are giving your word that you will make the payments if the person you cosigned for doesn't.

When someone asks you to cosign a loan you have to ask yourself if you are willing to make the payments if the other person can't or won't. If the answer is no then you know what to tell them when they ask.

Some other questions I always answer no to:
Will you make my bail?
Do you want to take advantage of this once in a lifetime free offer?
Do you want to take a free tour of our resort?
Can I ride your motorcycle?

:) Ozark

You can leave an optional "tip" with Mahalo's virtual currency, Mahalo Dollars. If you are asking a difficult question that might require some research, or if you'd like a wide variety of feedback, a higher tip often leads to more answers to your question.

M$

Report Abuse

Post Reply Cancel

Learn something new with our FREE educational apps!

Private lessons in the comfort of your own home. Get back in shape or finally pick up a guitar with our great experts guiding you the whole way!
Learn Guitar
Learn Hip Hop
Learn Pilates