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No, a co signor would not be liable. A co-buyer would be liable.
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∙ 12y ago
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Can your daughter be on your car insurance if you are not cosigner on her car loan?
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
What happens when a car is repossessed and you are the cosigner?
You will also be liable for any deficiency balance
Is a cosigner on a car liable if the primary borrower is at fault in an accident?
No. A cosigner's only obligation is the debt incurred by signing the lending agreement.
Why would a co signer of a car loan take life insurance?
If the person the co signer was signing for died they would not be liable for the remaining amount due. Also the other way around if the cosigner dies then the car would be paid for after death, but there would probably be two different plans for that.
Is a cosigner liable for an automotive repossession in Michigan?
When you cosign for an automobile purchase you are typically liable for an automobile repossession in Michigan. The reason why is because you are responsible for car payments as a cosigner if the primary debtor cannot pay.
If the driver of a car is liable for an accident who is liable the owner of the car or the driver's insurance company?
The owner of the car is liable for the accident itself and the damage. However, the insurance company might have to pay for it, depending on the owners insurance cover.
What type of insurance should a cosigner obtain on a car?
The insurance reuire by your lender.
If you cosign for a car loan can you be sued successfully?
Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.
Is the insurance company liable to replace a stolen car with only liability insurance?
If you only carry liability insurance, that is all that the insurance company is liable for in this state.
If you finance a car in your name or with one of your parents as a cosigner will your parents insurance cover it?
no
If you gave a charged off car back to the cosigner would I be responsible for what they do with it?
Yes. You signed the loan agreement, so you are liable.
Who is liable in a chain reaction car accident?
i was rear ended in a 3 car pile up on the highway, whos insurance is liable for my car repairs
