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If you cosign an auto loan for someone and that they have an accident and do not have car insurance will you be held responsible as well as the owner?
Updated: 9/11/2023
YES, you are responsible for anything that concerns the loan you co-signed.
In the land of litigation, anyone can sue for almost any reason. However, a lender would require insurance be carried on an auto until the loan is paid in full. Most states have insurance requirements also. The fact that he was uninsured could be a serious problem in the liability and legality arena. The transaction might be seen as fraudulent. What you knew or didn't know about this, might decide your responsibility (if any).
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