2006-09-29 05:06:40 · 6 answers · asked by Smiley ;-) 1 in Business & Finance ➔ Personal Finance
You are responsible for all debts and any accident claims if the other person bails and stops paying. You will get stuck with all the payments and any other problems they caused with the guy if they mess you over.
2006-09-29 05:15:04 · answer #1 · answered by Pantherempress 7 · 0⤊ 0⤋
The responsibility of a co-signer on a vehicle is if you stop paying for it they are held accountable. Another responibility of a co-signer on a vehicle is they are technicaly co-owner - if that vehicle is ever involved in trouble they are also held accountable and are notified!!
2006-09-29 12:19:25 · answer #2 · answered by tigerwings69 1 · 1⤊ 0⤋
If the person who is the one getting the loan stops paying for the car, the co-signer gets slammed with the payments and all kinds of fun fees, like overdue fines and that.
2006-09-29 12:15:55 · answer #3 · answered by Goodbye 5 · 0⤊ 0⤋
A co-signer is resposible for the loan the vehicle if the owner doesn't pay on the loan.
2006-09-29 12:31:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If the main person on the loan defaults, the co-signer must make the payments.
2006-09-29 12:10:39 · answer #5 · answered by WJVV 4 · 1⤊ 0⤋
The co-signer is liable for the loan if the other signer defaults.
2006-09-29 12:14:35 · answer #6 · answered by Anonymous · 1⤊ 0⤋