If my co-signer for a car loan dies. Do I still have to pay for it?

Cars & Vehicles
Repossession
Loans
Personal Finance
Money Management
Co-signing

yes you do,the purpose of a co signer is that person is responsible for paying in the event that you dont pa,if that person is deceased you are still responsible.if you dont ,all non ppayments will go on your credit report

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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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Is the co signer resposible for a loan if they did'nt know they were being held responsible for the loan?

To be a cosigner on a loan you would have had to sign the papers regarding the loan in which if you don't know then you obviously didn't sign them and are a victim of fraud.

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Do you have to still pay the loan if they repo your car?

Theoretically yes (though what the car is resold for is applied to the balance of the debt as a credit). However, lenders know their chances of getting that money are slim to none, because if you'd had the money you would have been making the car payments in the first place. So they tend to try t...

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If your car is repossessed do you still have to pay for it?

The vehicle will be sold at auction, the proceeds will be applied to the loan and to the repo fees, then you will still be responsible for any remaining amount owed to the loan.

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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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Do co signers have any rights?

So, even though a cosigner is responsible for making payments when the primary borrower doesn't and their credit is impacted by the loan, they have no ownership rights over the vehicle.

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Why do it have to affect the co-signer when its your debt?

Because the cosigner guaranteed the to pay the loan if you do not. You fail to make a payment and the lender will be looking at the cosigner for the payment. You not only have an obligation to the lender who lent you the money but to the cosigner who also signed his name to the loan agreement.

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If took out a car loan for someone. They could not co-sign dut to bad credit. Can I sue if they stop paying me back?

No, by signing the contract as a co-signer you automatically accept the responsibility if the signer is not paying you will be financially responsible for the loan. There is no legal action you can take against the signer. For more information you can visit http://www.autocreditfinancial.ca IN so...

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What if I am unable to pay a car loan?

a man comes in the middle of the night and takes it away and you get it back when you tally up what you owe or they auction it off if they feel they held it long enough for you to pay what you owe.

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Who owns the car if there is a co signer?

So, even though a cosigner is responsible for making payments when the primary borrower doesn't and their credit is impacted by the loan, they have no ownership rights over the vehicle.

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What can happen if you don't pay a title loan and you still have the car?

The vehicle can be repossessed.

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Who pays for a loan on a car if both husband and wife dies?

If the heirs at law want to keep the car, they must pay off the loan. Otherwise, the car would be repossessed by the lender.

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Can you sell a car when you still have a big car loan to pay off?

As the vehicle owner, you can sell the car whenever you choose. You are liable for the car loan. If you are selling the vehicle for less than the loan (especially when you are upside-down on the loan - you owe more than the car is worth), you need to pay the difference to your lender.When trading...

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What if you co-sign for a daughters car loan?

Then you are responsible for the payment if she misses a payment.

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Does a co-signer have the right to take the car if you are behind on payments?

When you fail to make payments, they go after the co-signer. It can affect his credit. If he makes the payments he can take the car. You wouldn't want to make payments for someone else's car.

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How do I remove a co buyer from my car loan?

Here are some of them: Refinance the loan. Refinancing the loan means that you will be taking out new financing in your own name without the co-buyer. Sell the vehicle. More often than not, the easiest way to get out of a joint auto debt is to simply sell the vehicle. Modify the loan. Sett...

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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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Do I have to pay for a CARFAX report at my local used cars dealers?

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If you fail to pay a car payment do you legally have to pay it anyway?

Its a binding contract and after enough finance charges and slams to your credit Im pretty sure they would repo it? So I would say yes, considering you signed up to make payments on it they expect it and the Bank/Loan Agency Expects their money back in anyway

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Can I go to jail for not paying car loan?

However, some states—roughly a third—still use jail as a method to coerce debtors to pay certain debts.Today, you cannot go to prison for failing to pay for a “civil debt” like a credit card, loan, or hospital bill.You can, however, be forced to go to jail if you don't pay your taxes or child sup...

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Do you have to pay off the car loan if you total the car?

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Do you have to pay for a car if it is repossessed?

The bank will sell yours at auction. Whatever they do not recoup, you owe the difference.

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Do I have to pay impound fee if my car was stolen?

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Can a co-signer pay the balance of the loan off to save credit history after a repo and then sue the owner of the car for half the loan?

Anyone can sue anyone for almost anything. Winning and collecting any judgment is another thing.

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Do you have to pay for a car if it gets repossesed?

Yes, if a leinholder reposessed a vehicle from a person that owes a debt. then that vehicle is taken to an auction and the person it was reposessed from must pay difference. If the amount owed is $12000 and the leinholder sells it at an auction for $8000 the previous owner must pay the $4000 diff...

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If a bank has approved the loan do you have to pay a down payment?

that all depends on the loan, the terms of the loan. you need ask the bank not someone on here.

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I cant afford the Insurance right now. can you take a loan car off the road im still paying for it im not going to drive it for a while im still going to make the payments is this possible?

The answer depends on a lot of things, including your state laws and the terms of your loan contract.Most states require a vehicle's owner to carry liability insurance if the vehicle is being driven on public roads. Often, you can take your car "off the road," by turning in its license plates and...

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If a 96 yr old mother co-signs a loan for you and she dies what happens?

They probably bury her.

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How does a co-signers credit for get affected if the car he signed for is reposessed?

The co-signer will also have a repossession showing on their credit as well. The co-signer is just as legally responsible for the car as the person they signed for.

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Will i have to pay for a faulty repair to my car?

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Do I have to keep paying for a car that has been reposed by a bank if I surrender it to the bank in which is carring the loan?

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How do I pay off my Wells Fargo Auto Loan?

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Can i still own my car if i recentlly lost my license do to age?

how can i keep my car in my name by using a aid to drive me around if i do have a license anymore

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Even if your car is repossessed and later sold at auction, you might not be off the hook.If your car sold at auction for less than what you owed on the loan, you must still pay the remaining balance to your lender.If you do not make those payments, your creditor can sue you in court.

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

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Do you still have to pay if your car is repossessed?

Even if your car is repossessed and later sold at auction, you might not be off the hook.If your car sold at auction for less than what you owed on the loan, you must still pay the remaining balance to your lender.The creditor will notify you of how much you owe and you will be responsible for ma...

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Do I have to pay taxes twice if I buy a car out of state?

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How do I find out if my husband cosigned for a car loan?

You are between a rock and a hard place regarding the loan if he will not give you the information about the loan. The loan will also show up on his credit report, but you may not have access to that, either.You should ask him if he cosigned for a loan. He is your husband. If you don't feel comfo...

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Will my car battery die if I don't drive it?

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Yes, you have to pay the parking ticket, because it was your fault, you have to pay for the penalty, if you don't want your driving record or your personal credit score to be tainted.Pay that ticket for the peace of mind.If it is paid, your driving record is clear, it doesn't matter if you still ...

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If I donate my car to the kidney foundation will they pay for the towing to take it away?

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If after ten years the repossed car is still on your credit report do you have to pay the loan back?

i repo in six states and as far as i know it will stay on your credit report until you settle your debt to the lien holder

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If car is repossessed do you have to pay the balance on the loan and if so how much?

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Do i pay the power pole if i crash into it having a grandmal seizure?

Yes, of course. You will also lose your license, since you can not safely drive.Your insurance will.

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Can my co signer on my truck stop me from taking my truck that I paid on time for 4yrs and since i got a job in fl he is now saying i can't take it can he stop me?

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

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How long do you have to pay on a car loan to help your credit?

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If there are two names on a car title co-signer but the two want it to be owned by only by one what needs to be done?

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How do I transfer my car loan to my spouse?

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Are you still going to have to pay the balance if they repossess your car?

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If he needs his space, you need your car.

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All tolls on The Toll Roads are collected electronically -- there are no toll booths at which to stop and pay cash.Visitors and infrequent drivers can pay tolls within 5 days before or 5 days after driving The Toll Roads using our free app or online at TheTollRoads.com using the One-Time-Toll fea...

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Do you have to pay for inspection if you fail?

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Man died before i was given my title and in my search for one it seems as if one doesnt exist so how do i plate my car?

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If your husband co-signs for his daughter's car loan will that affect you when you want to get a car loan?

No, not if the wife is the sole borrower.

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Do I have to change my garaging address if I take my car to college?

Are you in a different state? Wouldn't hurt to advise your agent or the policy services dept of your insurance company.

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Do I have to pay taxes on a totaled car?

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Do I have to pay taxes on a gifted car?

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Can I pay off my Capital One auto loan early?

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Can you go to jail if you don't pay for your car loan?

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Return again when they are open. If closed permanently, try to find the person who owned or managed it to ensure your account does not go into arrears.

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Do you have to pay for parking if you have a handicap placard in Florida?

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Do you have to pay for car insurance if you don't have a license Do you have to pay for insurance if you don't have a license in the state of Alabama?

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Can I deduct mileage if my employer pays for gas?

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Will a dealership buy my car if I still owe?

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Can I use my car as collateral if I still owe on it?

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Sure They Can ! Call Your County Attorney, See How Fast They Stop Too.

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Can I scrap my car if I still owe finance?

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None whatsoever if you bought it, "As Is".

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How Can I Get I return a Car ti a Dealer if I find that I cant pay for it?

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Do i have to go back to truck driving school if i don't use my cdl for a year?

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Do you have to pay for electricity for electric cars?

The average cost of electricity in the US is 12 cents per kWh.Therefore, the average person driving the average EV 15,000 miles per year pays about $540.00 per year to charge it.

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Do I have to pay an insurance premium after my auto is declared a total loss?

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the question is how you are trying to sell the car. if you are selling the car to a dealership they will give you most likely the whole price, which in the end effect will mean that you ill owe too much money. however, if you sell the vehicle to an individual than you can ask him the current valu...

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Do you have to pay if your car fails inspection?

If my vehicle does not pass a portion or all of a safety and emissions inspection, do I have to pay the inspection fees when it is re-inspected? In other areas of the state, you must bring it back within 30 days to the SAME station that did the original inspection.

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Can a garage keep my car if I refuse to pay?

If you are refusing to pay while you dispute the bill, the garage has the right to keep your vehicle until the debt is paid.If you make it clear that you are paying under protest, you will be able to get your car back, and it will be easier for you to dispute the cost and claim the money back later.

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Can a person get arrested if he or she don't pay for the car loan?

When you get a loan you sign a legal document that states that you will make the arranged payments on time. There is usually a clause that states when payments are deemed late and how many payments can be missed before the loan is considered "default" and they own the vehicle, outright. The lende...

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Why is it bad to co sign for a car?

You can get stuck with the whole bill ...

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Whoever holds the loan.Contact the bank or the loan company that you used to get the loan release letter.

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Does a car still have to be registered and insured if it has not been running for over a year?

if u drive on the road yes.

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