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No. In my experience and from what I've read, it is not wise to lease a car from someone with a loan. They can still be held responsible for the car if anything happens to it. If you cannot afford to make the payments and the bank comes to collect the car, and the owner does not have it, they can be arrested.
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Are you looking for a cosigner to help secure a loan or lease agreement?
Are you seeking someone to co-sign a loan or lease with you?
Is it a better deal to lease or buy a car?
Usually buying a car outright is a better deal if you can pay upfront without a loan. If you do need a loan, then depending on the deal you get for the loan vs. the lease it can be a better deal to lease, but not usually.
What does lease busters do for someone?
Lease Busters helps to find someone to take over the lease of your car or for you to find a car to lease without hassle, you can take over someone else's lease. Lease Busters has a thorough Process Checklist and Offer-To-Lease form to help you in your decision for your car.
Can someone cosign a car lease for me?
Yes, someone can cosign a car lease for you. This means they are agreeing to be responsible for the lease payments if you are unable to pay.
Your husband is not on your car lease loan will he be held responsible if you do a repo?
no
Can you co-sign to lease a car and then get a lease for your own car?
Yes, you just have to remember that you will need sufficient credit to take on a second loan. Even though you are technically not the purchaser, you are still on that lease as responsible for that car in the event your buddy fails to pay. Your second loan/lease will definitely take this into consideration, along with your credit history and score.
Someone with a poor credit score should be able to lease a car.?
Someone with a poor credit score should be able to lease a car.
Can you use a leased car as collateral for a loan?
Yes, you can use a leased car as collateral for a loan, but it depends on the lender's policies and the terms of the lease agreement.
Can you lease a car with already having a current car loan?
That would depend on the credit worthness of the person wanting to lease. It is a separate transaction just as if you wanted to buy a second car.
Is co-signing on a lease the same as co-signing for a car loan?
It is essentially the same but of course with a lease, your responsible for an amount agreed to be paid rather than paying back a loan.
How do you get out of a used car loan?
To get out of a used car loan, pay off the loan or find someone else who will do that.
How do you get your name removed from cosigning a car lease?
Until the lease is satisfied or the vehicle surrendered, you can't. You guarantee the loan if the primary cannot pay for it.
