Do they check and see if the license is valid? I am trying to co-sign on a vehicle.
2006-11-24 02:35:52 · 8 answers · asked by just me... 2 in Cars & Transportation ➔ Buying & Selling
When cosigning they may try to put you first on the loan that would mean you need to have insurance. In order to get insurance you need to have a valid drivers license. Be sure that you are 2nd on the contract and they are not using your credit to carry another individual.
2006-11-24 02:53:34 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You can likely buy it, but good luck on insuring it. If the co-signee has an existing policy (which they may not, and that is why their license is suspended), you will probably be able to insure it at least until the next renewal (if the insurance company finds out about the license suspension, they may non renew the policy effective the renewal). If a new policy is needed, many companies will not write a policy, and if they do, it will be in a high risk category. Get the license stuff cleared up, else you (yes you) could be in a lot of trouble financially and legally if the car is damaged/wrecked/injures another person and your name is on the title. You could be liable for any expenses incurred. And make sure insurance is available and in force for the new car.
2006-11-27 17:44:16 · answer #2 · answered by XUSAAAgent 5 · 1⤊ 0⤋
You can't buy a vehicle yourself if your license is suspended,but you can co-sign a loan for someone else who is purchasing a vehicle. Your license has nothing to with signing a loan unless they ask for identification to make sure the people making the loan are who they say they are.
2006-11-30 00:30:31 · answer #3 · answered by Ralph T 7 · 1⤊ 0⤋
I assume you mean a suspense title. The title is in suspense because a bank or car lot has a lien on it. The only way to legally sell the car is to get the lien holder to release the lien on it, which they will only do if the car is paid off. I bought a car like that once, and it worked out ok, but it is risky. I don't think I would take a chance like that again. You could end up with a car that you can't get a title for.
2006-11-24 11:51:44 · answer #4 · answered by carguy 4 · 0⤊ 1⤋
You do not have to have a license to buy a car. Especially on a co sign situation. You will not have the car so will not be driving it. Lots of people own cars but dont drive themselves.
2006-11-24 10:44:49 · answer #5 · answered by elaeblue 7 · 1⤊ 0⤋
You don't need a license to buy a car, only to drive it. There is no bar to buying a car with a suspended license either, again only to actually driving it.
2006-11-24 13:35:38 · answer #6 · answered by Bostonian In MO 7 · 0⤊ 0⤋
I dont no if you can buy one legally from car dealer but if you are buy the vehical from someone you no than yes.
2006-11-24 10:40:35 · answer #7 · answered by Anonymous · 0⤊ 1⤋
NO
2006-11-24 10:37:28 · answer #8 · answered by Anonymous · 1⤊ 2⤋