Can anyone be a cosigner?

What Is a Cosigner? In a nutshell, a cosigner is someone who guarantees that they will be legally responsible for paying back a debt if the borrower cannot pay.

Some of the best people to consider reaching out to are a trusted friend or family member with a good credit history and a solid income history.

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Next questionWill I get approved with a cosigner?

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Can a cosigner be removed from a car title?

For the lender to release the cosigner from the loan, the loan must be paid off first.Or, if you are refinancing because you no longer need a cosigner, the lender will issue new loan paperwork with only your name listed as the party responsible for payment.Sign the title and ask the cosigner to s...

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Can you be denied a loan with a cosigner?

If a potential borrower has poor credit or no credit history, they present a higher risk to the lender and the loan application is likely to be denied.That's the basis of a cosigner loan.In this arrangement, the cosigner agrees to pay off the debt if the borrower does not make the payments.

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Can a cosigner be removed from a car loan?

Generally speaking, the only way to get a co-signer removed from a car loan is to refinance the loan.If they won't, you might see if a lender will agree to remove the co-signer after you've made a certain number of on-time payments but before you've paid off the loan.

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Can a cosigner be removed from a car lease?

Generally speaking, the only way to get a co-signer removed from a car loan is to refinance the loan.If they won't, you might see if a lender will agree to remove the co-signer after you've made a certain number of on-time payments but before you've paid off the loan.

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Can a cosigner be removed from a mortgage?

Reasons for Removing Name From Mortgage In order to add or remove a cosigner or co-borrower from your home loan, you must refinance.The refinancing process consists of applying for a new loan.Because a refinanced loan is a completely new loan, a cosigner can be removed and a new cosigner or co-b...

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Can someone whos gone through bankruptcy be a cosigner?

It depends on how long ago the bankruptcy was filed and what it was for. If the co-signers credit is above the standards of the particular place that you're talking about, then there should be no problem.

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Can a cosigner be released if borrower is fraudulent?

You need to discuss the situation with the lender and provide proof that the primary borrower lied on the application. However, the lender may not want to hear your story. You stepped up to guarantee that the loan would be paid. You may need to sue the primary borrower in court yourself if they h...

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Can you be too old to cosign a loan?

Common Age Requirements However, most 18-year-olds do not have enough financial resources, credit history or job longevity to be co-signers.On the other side of the age spectrum, lenders are not allowed to discriminate based on a co-signer being elderly.

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Can a grandparent cosign?

Absolutely anyone that can qualify for credit can cosign a loan for anyone. But be careful, as the person cosigning takes full responsibility for seeing the loan is payed and will be the one sued for failure to pay (not the person they cosigned for) should the lender decide it is necessary to sue...

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Does a cosigner have to be on the title?

If both your name and the cosigner's name are listed on the registration, it indicates you have joint ownership of the car.However, a loan cosigner doesn't need to be on your car paperwork.Instead, he can choose to simply cosign the loan and include his name only on the financial documents.

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What are the requirements to be a cosigner?

In order for your cosigner to be accepted by the bank or lender, the cosigner is usually required to have a good or excellent personal credit rating.Generally, lenders will require a potential cosigner to have a credit rating score of 700 or above.

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How good does a cosigner credit have to be?

Cosigner Credit Rating This, however, is incorrect.The cosigner needs to have a certain level of credit worthiness in order for the car loan application to be approved.Generally speaking, the lower your credit score is, the higher the cosigner's rating needs to be.

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Can a cosigner take away a car?

Unfortunately, if the primary borrower defaults on the car loan, you won't be able to take possession of the vehicle as a cosigner, even though you'll be responsible for any payments.Once you sign the loan contract, your credit will be affected, too.

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Can a cosigner register a car?

I'am a cosigner on the car that I'am driving. I have the title but it is in my ex-husband's name and mine. Will the DMV in Mississippi let me register the car if he is not present?

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Can you refinance your car without a cosigner if your current loan has a cosigner?

if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner

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Does a cosigner on car loan have to be licensed?

No, they just need good credit.

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Can a cosigner legally take the car?

Cosigners Can't Take Your Car Cosigners don't have any rights to your vehicle, so they can't take possession of your car – even if they're making the payments.Typically, this happens when a lender is on the fence about approving you for auto loan, so they require you to provide a cosigner.

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Can a cosigner sell a vehicle?

No. Both must sign if both are on the title. Unless the Primary Signer is dead, the cosigner cannot sell the car. Also, having a power of attorney specifically for selling the car will give you the right. Let's say he is overseas and you want to sell the car, you have the right when he signs it o...

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Is it easy to be a car salesman to anyone?

No it isn't, you have to be very smart and a liar and I know someone who is very successful as one but it is not a very good occupation choice so go to college or own one of your own car dealerships.It isn't very good to lie so....Signed,Goshir York

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Can a cosigner take the car away?

Unfortunately, if the primary borrower defaults on the car loan, you won't be able to take possession of the vehicle as a cosigner, even though you'll be responsible for any payments.Once you sign the loan contract, your credit will be affected, too.

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Can a cosigner take your car away?

Unfortunately, if the primary borrower defaults on the car loan, you won't be able to take possession of the vehicle as a cosigner, even though you'll be responsible for any payments.Once you sign the loan contract, your credit will be affected, too.

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If i have a cosigner can i cosign for someone else?

In theory, yes, there's nothing stopping you from doing so. However, the fact that you needed a co-signer on your loan indicates that your credit it weak. Therefore, I'm not sure whether a lender would consider your co-signature much of a credit enhancement. Also, the fact that you have an outsta...

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Can anyone buy a new Ferrari?

There are no New Ferrari's for sale from a dealers (except The California Ferrari which is the starter car) inventory except in a very rare circumstance.The used cars are more than a new one if you are lucky enough to order a new one.Yes you have to own a used Ferrari to be able to place an order...

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Can I cosign without a job?

"Unemployed" doesn't necessarily mean no income sources.If your applicant has no source of income, he can't cosign for your mortgage.No mortgage lender extends a loan to a person without a verifiable source of income.If you choose a retired parent or a self-employed friend, you may have a shot at...

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Can you cosign verbally?

No, cosigning cannot be done verbally. A person who is co-signing must attend the loan closing and further sign all the necessary documents.

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Can I cosign verbally?

You have to be kidding. NO. You cannot sign verbally. To sign is to write your name.

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Can anyone do a DOT inspection?

There is no requirement to be licensed to do truck inspections, but you must be certified.Requirements can be found in 49 CFR Part 396.19.Basically, you must complete a training program, have experience as a mechanic, or a federal or state inspector or similar experience.

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Can anyone go to a car auction?

All over the U.S., you can find car dealer auctions open to the public.That means buying cars at auction prices is an option for just about anyone, even if you don't have a dealer's license.

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Can anyone buy a Rolls Royce?

The story is Rolls Royce, the Luxury Car maker located in Good Wood UK does not sell car to anyone who can buy, Rolls Royce sells their cars only to the customers they like.Generally they offer their cars to celebrities, businessmen and other famous personalities.You have to earn a Rolls Royce, y...

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Can anyone learn to ride a motorcycle?

Just as you can't learn to drive without taking a class-hopefully everyone did-you can't ride a bike without knowing those foundations.Now, even after you take a motorcycle safety course, you won't be riding like a seasoned pro.

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Can anyone suggest a 2013 diesel car?

Volkswagon has been a constant and solid provider for diesel vehicles for decades. But for a comprehensive comparison of diesel vehicles check out Edmunds (www.edmunds.com).

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Can anyone test drive a Ferrari?

You can test drive a Ferrari, it's not impossible.They might ask you to put down a test drive deposit.If you're at a Ferrari dealership with low sales and inventory, they probably won't let you test drive.

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What are the chances of a flying car being invented that anyone with a normal driving license can use?

Very low, first off it is unlikely that a stable flying car will be not only invented but released and second off, if it was released you would need special courses if you were to actually fly it and in turn you would need a license to show that you took those courses.

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Can Cosigning improve your credit?

The primary loan holder and cosigner share equal responsibility for the debt, and the loan will appear on both your credit report and hers.As a result, it will help you build a credit history.

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Can you insure a car so anyone can drive it?

Any driver insurance allows anyone to drive your car (with your permission).The downside is that it can be expensive, as your insurance provider can't be sure who's driving the car at any given time.

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Can you sell a car if you have a cosigner?

A cosigner vouches for your ability to repay a car loan by agreeing to take on the responsibility for it if needed.However, having a cosigner normally doesn't affect your ability to sell the car.Before you can sell the car, the existing lien must be satisfied.

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Can a cosigner take their name off a car loan?

Cosigning a loan or credit card basically tells the bank that you're willing to make payments if the other person doesn't.As a general rule, the bank won't remove your name from a cosigned debt unless the other person has demonstrated they can handle the loan on their own.

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Can a17 year old get a loan with a cosigner?

Yes, as long as the cosigner is a legal gardian or a parent.

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Can a cosigner back out of a lease?

In general, most landlords won't allow you to break or be taken off a lease once you've cosigned.Because it is so difficult to get out of a lease as a cosigner, if you cosign, you must do everything you can to ensure the tenants pay in full and on time.

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Does my cosigner have to be on the title?

It's likely that your car's title will list your lender's name while you have an outstanding loan.However, a loan cosigner doesn't need to be on your car paperwork.Instead, he can choose to simply cosign the loan and include his name only on the financial documents.

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Can a cosigner take possession of a vehicle?

Cosigners don't have any rights to your vehicle, so they can't take possession of your car – even if they're making the payments.Typically, this happens when a lender is on the fence about approving you for auto loan, so they require you to provide a cosigner.

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Can you remove a cosigner from a lease?

Removing a cosigner from an apartment lease is difficult to do because the landlord or property manager may take on more business risk if he consents, but it is possible.Landlords and property managers are not legally obligated to remove cosigners from leases.

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Can a cosigner take ownership of a vehicle?

Auto Loan Cosigner Rights A co-borrower is someone who shares equal ownership rights and is usually a spouse.While a cosigner must meet the income requirements, their name isn't listed on the title, giving them no legal right to take the car.

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How can a cosigner get out of a lease?

There are ways to get out of a cosigned account, though: Option 1. Help the other person on the loan improve his or her financial habits. Option 2. Talk to the lender. Option 3. Have the car owner refinance the car loan by him or herself. Option 4. Pay off the existing loan more quickly. ...

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Can you remove yourself as a cosigner on a loan?

Unless there was fraud involved, there is generally only one way to get oneself removed as the cosigner of a loan; the loan must be paid off.However, assuming the signer doesn't simply pay the loan, a cosigner can be taken off if the loan is refinanced or if a new loan is taken out to pay off the...

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Can I get taken off as a cosigner?

Unless there was fraud involved, there is generally only one way to get oneself removed as the cosigner of a loan; the loan must be paid off.However, assuming the signer doesn't simply pay the loan, a cosigner can be taken off if the loan is refinanced or if a new loan is taken out to pay off the...

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Can a cosigner have bad credit but good income?

The ideal cosigner is an experienced borrower with plenty of extra income to absorb your loan.It won't do you much good to ask somebody with bad credit (or no income) to cosign.Strong credit improves your application, and sufficient income provides a safety buffer in case your life takes an unexp...

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Can you have two co signers on a car loan?

Not everyone can qualify as a co-signer for a single car loan, let alone multiple loans.However, every loan you co-sign will show up as a liability on your credit report.To co-sign a second or a third loan, you could need to prove your income is sufficient to cover all the loans if the borrower d...

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Will my car be taken if my cosigner dies?

Not as long as you make your payments on time. A co-signer guarantees that you will pay your loan off. If your co-signer dies and you don't make your payments the lender will repossess the car and go after you for any deficiencies.

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Can you remove A CO signer name after six months?

No, one can not remove a cosigner from any contract after 6 months. The cosigner will have to stay on the contract until the contract is paid.

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How can a cosigner get out of the loan?

There are ways to get out of a cosigned account, though: Option 1. Help the other person on the loan improve his or her financial habits. Option 2. Talk to the lender. Option 3. Have the car owner refinance the car loan by him or herself. Option 4. Pay off the existing loan more quickly. ...

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If someone cosigned an auto loan can someone else take over as the cosigner a few months later?

From my experience, you would have to re-finance the suto loan with the new co-signer.

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What does it mean to be a cosigner for a car?

With your good credit you sign a contract to pay off the loan if the original borrower defaults.

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How should you be contacted if the car you cosigned on is being sold?

In a few states both the primary borrower and the cosigner must be notified by the lender through a "Right To Cure" notice before repossession action can occur. In Wisconsin a replevin order is necessary before a repossession can take place, but the cosigner is not always notified. In the majorit...

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How can you get a cosigner off of the title?

If the loan is paid off, the lender will give you a lien release. With that release in hand visit your local DMV to have the cosigner removed.

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Can a cosigner get out of that agreement?

No, not until the loan is paid in full. You cosign and you are stuck with that decision just like any other contract you enter into.

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Can you add a cosigner to an existing car loan?

When a lender asks you to add a cosigner to an existing loan, they are essentially asking you to add someone else to be legally responsible for the debt.There is no reason for a consumer to ever willingly add a cosigner to loan that has already been issued.The interest rate and loan terms stay ex...

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How can I get a car with no cosigner?

If you apply for a no credit no cosigner auto loan, you will be able to enjoy the following things: Buy a car instantly.You do not have to wait for building a credit score before applying for the loan.You do not have to find someone to become your cosigner.Get affordable monthly payments on y...

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Can I remove my name from a cosigned car loan?

Removing Your Name From a Cosigned Loan Or, call the lender and ask if something like this applies to your loan.Refinance or consolidate.Another option is to have the other borrower refinance the loan into their name.If the borrower qualifies, they can use the consolidation loan to pay off the l...

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How can I get out of a cosigned loan?

If you want to be removed as a co-signer, there are several possible options. What's a co-signer? Transfer the balance to a 0% card. Release the loan. Consolidate or refinance the debt. Remove your name from a credit card account. Sell the financed asset. Pay off the balance. Following...

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How can I legally get out of a cosigned loan?

There are ways to get out of a cosigned account, though: Option 1. Help the other person on the loan improve his or her financial habits. Option 2. Talk to the lender. Option 3. Have the car owner refinance the car loan by him or herself. Option 4. Pay off the existing loan more quickly. ...

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Can anyone give a manual for Mercedes s320 2002 cdi?

This Interactive Owner's Manual describes all models, the standard features and the optional equipment of your vehicle available at the time of publication of the Owner's Manual..

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What is a cosigner?

A cosigner is the person who agrees to pay off the full balance of the loan if the primary borrower fails to pay. A cosigner signs the loan documents and guarantees payment of the loan even if they have no ownership in the property covered by the loan.

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Can anyone recommend a weatherproof car seat cover?

A weatherproof car seat cover that I would recommend through wet okole Hawaii. This com0pany offers many different brands and styles of weatherproof car seat covers for a reasonable price.

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Can anyone go to car auctions?

All over the U.S., you can find car dealer auctions open to the public.That means buying cars at auction prices is an option for just about anyone, even if you don't have a dealer's license.

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Can anyone become good at drawing?

Technically the answer if Yes, anyone can become great at drawing with enough practice.

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Can anyone tell me what exactly is a 4x4 van?

A 4x4 van is a van that has 4 wheel drive. It would be a great idea if you live somewere were you get alot of snow beacuse they get better traction than a normal front wheel drive van!

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What does it mean that anyone can make a difference?

It may not matter to you, but it makes a world of difference to me.2 : to do something that is important : to do something that helps people or makes the world a better place She says that she got into politics because she wanted to make a difference.

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Can anyone go to auto auctions?

Find an auction that sells newer cars where the public is allowed to attend.Most auto auctions are run for dealers only, but some are open to the public.Vehicles at an auction are generally ex-rentals, off-lease, repossessions, or government vehicles.Mine was a trade-in being sold by a dealership.

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Can my parent co sign mortgage?

Your mortgage lender may recommend asking a parent or family member to co-sign the loan for you.FHA and traditional mortgage lenders allow co-signers to use their income and credit to secure the loan on your behalf.Co-signing the loan gets the keys in your hands sooner, but comes with many disadv...

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In order to be an eligible co-signer does that person need to have a job?

Most likely, but alot of it depends on the co signers credit score, also if they have sources of income other than a job. The purpose of a co signer is for the bank to have someone to go after for a debt if you don't pay.

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How can anyone learn to drive car?

Yes, anyone can learn to drive a car if you instruct them properly and with patience.

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What qualifies for a cosigner?

A wide range of individuals can be a cosigner as long as they are creditworthy, understand and accept the responsibilities of being a cosigner, and meet any specific cosigner requirements of the lender.A creditworthy cosigner is an individual with good or excellent credit and an ability to repay ...

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What is a co signer?

A co-signer is a person who is obligated to pay back the loan just as you, the borrower, are obligated to pay.A co-signer could be your spouse, a parent, or a friend.The lender cannot require your spouse to be a co-signer unless you are both applying for the loan.The co-signer is also obligated o...

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Is cosigning a bad idea?

Even if the borrower is diligent about making the payments, you may still run into credit problems as a result of cosigning.Any loan you cosign will show up on your credit report as one of your own debts.Yes, that's a hassle, but if this person can't get a loan without a cosigner, there's a good ...

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Do power steering cap replacements have to be car-specific or can you get any one you want?

If the dip stick is the same length and the cap fits properly it is OK.

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If the cosigner for a car loan lives in a different state but cannot travel can the dealer travel to them to get the cosigner forms completed?

U.S.Mail or Fax and a Notary Public is all you need.

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What age does a person have to be to get a car loan without having a cosigner?

Your age has nothing to do with needing a cosigner, unless you are under 18. If you are 18 & over you will not need a cosigner if you have the necessary equity & income to cover the loan. As you seem to be a young person, may I give you some advise. Never borrow money to purchase a car. S...

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Can a 18 yr old get an auto loan without a co signer?

Should be able to if you have a good credit report as you are an adult. However, if you do not have or have not ever had credit, then you well may need a co-signer. I would talk to your bank about obtaining a very low, modest sum of money as a loan just to establish a credit history. Pay it back ...

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Can a co-signer take there name off of a car contract?

Only if the loan has been paid off.

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Can you sue the person you cosigned for?

The Debt Collector Either the lender or an assigned debt collector can file a lawsuit against you for any unpaid part of the debt, even if they don't sue the person you cosigned for.If the lender wins the lawsuit, a judgment will be entered against you.

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What happens to a cosigner?

A cosigner is a person who agrees to pay a borrower's debt if he or she defaults on the loan.The person asked to cosign a loan usually has a good credit score and a lengthy credit history, which greatly improves the primary borrower's odds of approval.

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Can a 19 year old get a car loan without a cosigner?

You can still get approved for an auto loan without a cosigner if you're 19 or a first-time car buyer.However, some lenders may require you to have one, and won't finance you without a cosigner on the loan.

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Can a person with bad credit get a loan with a cosigner with good credit?

Possibly. However, the cosigner needs to understand all the implications should the one needing the cosign on the load default on payments. If the primary borrower doesn't pay the co-signer will be held personally responsible for paying the loan in full. That's what they agree to when they sign a...

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How can I get a car at 18 without a cosigner?

Tips for getting a loan at 18 Show that you have savings. If you can show the lender you're good at saving, the lender may be more willing to approve you. Offer a deposit. Get a letter from your employer. Apply for a lower amount. Apply for a secured loan.

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Is cosigning a loan a good idea?

Cosigning a loan is high risk, low reward And since you qualified as a cosigner because of your good credit, you don't necessarily need more credit lines.By cosigning a loan, you take on all the risk if the loan is not repaid but may only see a modest improvement to your credit score.

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Can I sue the person I cosigned for?

Either the lender or an assigned debt collector can file a lawsuit against you for any unpaid part of the debt, even if they don't sue the person you cosigned for.If the lender wins the lawsuit, a judgment will be entered against you.

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What does your credit score need to be to co sign?

Your co-signer should have a credit score of at least 700.In essence, a co-signer is qualifying for a loan just as if it were his own.Your co-signer may be asked to show proof of income via previous tax returns, paycheck stubs or even bank statements.

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can anyone inform me about Thirty car rental website?

Thrifty Car Rentals is a rental service that caters to travelers worldwide. Based on reviews, it's on the low end of satisfied customers. The prices are reasonable, but there are many hidden fees.

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Can you cosign for a auto loan in Pennsylvania without ever having a drivers license?

Cosigning on a loan has nothing to do with having a drivers lincense. You are just agreeing to pay the loan if the primary person does not. You are not driving the car. The only thing a lender is interested in is your ability to pay the loan.

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You bought a car with a co signer can you file bankruptcy?

Sure. The co-signer will be responsible for the debt on the car.

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Can someone put you as a cosigner without your signature on a car title?

No-they probably forged your signature

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Why Cosigning is a good idea?

The idea behind co-signing is that the person with the good credit will not want their credit impacted so they will make payments if the primary payee stops.

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What if a cosigner has bad credit?

The cosigner is actually responsible for the loan in case the primary person defaults, or doesn't pay, the loan off.There is really no benefit for the cosigner because all the risk is on them, and no risk really on the primary person.Only if they are deemed acceptable can someone with bad credit ...

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Can a co-signer have a car legally repossessed because of non-payments?

NO, that is the job of the leinholder. YOU dont want the responsibility of repoing it either. IF you are listed on the TITLE as co-owner, you can go get your car. Otherwise, sit back and enjoy the fruits of co-signing.

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Can a relative that lives out of country co sign for a car?

A relative that lives out of the country cannot co-sign for a car loan. Financial institutions require a signer and co-signer to be a US citizen or a US permanent resident with green card.

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Does anyone know where I can get my car polished?

You can get your car polished at any car wash. You can also take your car to a dealership where you purchased the car and they will also wash it and polish it for you as well.

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Does a cosigner guarantee a car loan?

By signing their name to the loan, the cosigner becomes legally obligated to it.This means they're bound to repay the loan in the event the primary borrower doesn't, giving the lender a guarantee the loan will be paid back.

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Can you cosign on more than one car?

Probably not. Unless you have exceptional credit.

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Can you take your co signer off your car loan?

No. The co-signer is there because the credit grantor considered you too risky.

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