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When a person co-signs a loan, they take on the obligation of the loan. The co-signer should also be on the title to the vehicle. If not, the co-signer could acquire title by filing a lawsuit against you for not paying and the court could transfer the title to the vehicle by a court order.
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If the co-signer do not have enough credit after being the co-signer half year for a car loan because of the co-singer lose the job What will happen to the co-signer?
AnswerIf you have already been the cosigner on the loan, you will remain so until the loan is refinanced or paid in full. It doesn't matter if the cosigner has lost their job or not. As long as the person is making their payments, the cosigner isn't affected at all.Good luck job hunting cosigner! :)
Does the buyer of a car have to have a job if they have a cosighner and for how long?
if you have a good cosigner then all that matters is their credit and work history... if you renage on the deal they go after the cosigner
Does a cosigner have to have a job?
No, a cosigner can be retired, or just in good standing with the federal credit bureau. They do not necessarily have to have a job. But the deal with a cosigner is that if the individual they are cosigning for does not pay the bill, the cosigner is responsible for the payment.
If the buyer is not making payments on time all the time and does not have a job and also does not have a driver's license how the cosigner get him removed from the car loan?
You would have to buy the car from the other person and take a loan in your own name. Find out what car dealers don't want you to know at www.dealertricks.com
Can your car be repossessed if you lose your job?
No, but your car can be repossessed if you don't make the payments.
Can the lender take to me to court if I am just a cosigner for my friend and he could not pay the remainder of his car loan?
Yes. That is the job of a co-signer, to make sure the signer makes the payments or to make the payments if the signer cannot.
How do you get a car loan without credit or job?
it is very hard to get a car loan unless you show you are bringing in some type of income.. you may have a chance if you have a co signer yeah it's true car loan without credit as well job is very difficult to get, if you have no job then you must need cosigner to get car loan.
What do you do if you lose your job while in the process of finalizing a car loan?
With no job you might want to rethink whether you need a new car!
Do you lose your forklift licence if you go DUI in your car?
No! But you may lose your job if they find out you've been DUI!
Can You Take A Car to Job Corps?
No
If you lost your job after you bought your car do you have to return the car?
Do you have to return it? No.Will they take it back? More than likely not. The salesperson would lose their commission.As for what to do, I'm not sure. I'm trying to find that same answer myself.
When in the state of PA if one party cosigns for the vehicle and the cosignee divorces a daughter can the cosigner repo the car if there is suuficient proof that the ex-son in law has lost a job?
I'm sure you won't like this answer, but only the lender can repossess the collateral. If the cosigner is also a co-owner and listed on the title, he could insist on taking his turn driving the car. But essentially, the only right a cosigner has is the "right" to make the payments if the primary borrower does not.
