2007-03-14 13:37:34 · 6 answers · asked by Judy G 1 in Politics & Government ➔ Law & Ethics
Only if the financing company finds out that she had no insurance. Also if daughter defaults on payments they go after the co-signer.
2007-03-14 13:45:56 · answer #1 · answered by curls 4 · 2⤊ 0⤋
I believe that the co-signer is only responsible for making any car loan payments that the daughter misses.
2007-03-14 13:45:56 · answer #2 · answered by Coop's Wife 5 · 1⤊ 1⤋
You are responsible for the loan payments, but you have no liability as far as the accident is concerned.
You are also a secondary option for collection. The bank will only go after you if your daughter is unable to pay.
2007-03-14 14:57:05 · answer #3 · answered by Average Joe 3 · 0⤊ 0⤋
Yes they can. God forbid but, if there was an accident that
either totaled whatever they were driving, or death whoever put their name on that piece of paper made themselves almost totally responsible for a stupid move.
2007-03-14 13:51:28 · answer #4 · answered by Williamstown 5 · 0⤊ 0⤋
No, you're just responsible for the loan.
2007-03-14 14:31:06 · answer #5 · answered by ? 6 · 0⤊ 0⤋
Absolutely, I was a bill collector and we had many many cases like that.
2007-03-14 13:45:17 · answer #6 · answered by Anonymous · 1⤊ 0⤋