my parents want to go guarantor for me to get a car loan, my questions is if they are guarantor can they take the car off me at any time they want???
2007-09-18 16:45:27 · 2 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
i don't plan on missing any payments but my parents can be rather nasty sometimes..so i'm just a bit worried that they could take the car when ever they pleased..
2007-09-18 16:53:17 · update #1
Only anytime you do not continue to pay for the loan. They co-signed your car loan so they will now have to pay for your car. Then they will be really mad there credit will be ruined as will your's. So show them you can keep a job for as long as your making the monthly payments and don't forget insurance and maintence of a car can get expensive.
2007-09-18 16:54:59 · answer #1 · answered by John Paul 7 · 0⤊ 0⤋
No it just means that if you don't make your payments they get stuck with the bill. Not making even 1 payment will mess wtih your credit score.
2007-09-18 23:50:03 · answer #2 · answered by DaLady 5 · 0⤊ 0⤋