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No. Until the judge declared divorce, the cosignor is on the lease. The two parties must come to a decision on who is going to own the vehicle AFTER the divorce and the two parties agree that the owner will continue payment. IF for some reason the one person CANNOT afford the payment, then both parties are on the hook until end of lease. The OWNER of the vehicle may also declare that BOTH parties remain on the lease until END OF LEASE.
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Who's credit rating is affected if a vehicle that was leased with a cosigner is reposessed?
Both parties social securities #'s are sent to collections for the amount due.
Can a cosigner who is on the title of a leased car be sued for not paying any payments on the car when the primary leasee is paying off the loan?
First of all it would not be possible to be on the title of a leased vehicle, as the leasor retains ownership rights. A cosigner is only responsible for the debt if the primary borrower defaults on the lending agreement.
Can a teen drive a leased vehicle?
No They Cannot.
Can you return a leased vehicle after one day?
why not.
If you cosigned a leased car for your daughter and the car and insurance are in her name are you responsible as cosigner for any liability over the covered insurance amount in the event of an accident?
No. Y-THINK-Y * Ordinarily a cosigner would not be liable for anything other than the lending agreement. However, responsibilities incurred by all parties when a vehicle is under lease can be quite different than the purchasing a vehicle. It would be prudent for the cosigner to read the leasing contract very carefully and perhaps seek legal advice if they are unsure of the terms of the contract.
Who is responsible for damage to a vehicle during a repossession?
the person the vehicle was leased to is responsible as they are the ones that have caused the vehicle to need to be repossessed.
How do you find where your old leased vehicle is?
Purchase a Car Fax report.
Repossession of a leased car in ct?
YES LEASED VEHICLE SCAN BE REPO'D, YOU NEED TO READ YOU LEASE AGREEMENT AND CHACK LOCAL AND STATE LAWS.
Can you get vehicle leased if you don't have a valid driver liscensce?
Yes u can snartypants
How do you register a leased car in NJ?
Even leased cars must be registered to the leasee. You must go to your local department of motor vehicles to have your vehicle registered.
Can a deceased person in Texas be sued for the return of a leased vehicle?
Yes, the estate can be required to return a leased vehicle according to the terms of the lease. If you read the fine print, it's there. Do you think that the vehicle should remain the property of the estate when it was only leased in the first place? That's the idea of a lease, the vehicle belongs to the leasing company and they let you use the vehicle for the terms of the lease. The terms of the lease are defined in the contract. If the estate of the deceased has been sued, I'm sure it is consistent with the terms of the contract.
What happens if a leased vehicle is in an accident?
If a leased vehicle is in an accident, the lessor has to notify the lease company, along with their insurance company. Sometime the lease company will have you go through your insurance for repairs, other times they send you to their repair shop (if they have one).
