R
rkassner
Guest
Arizona: My daughter is 20 yrs old, living outside my home, she needs a co-signer for a car loan - if I co-sign, and she has her own insurance, do I have any liabilities if she has an auto accident?
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As long as you are not listed as a registered or legal owner of the vehicle, you would have no liability. But you would be held liable for any and all car payments if something happens to your daughter and the payments are not made. And if your daughter drops her insurance, you could be held liable for providing insurance for the vehicle.
liability on auto loan
Hello,
Sorry, I know this thread is very very old.
North Carolina: I understand if our name doesn't appear on the registration, we would have no liability, yes? My mother in law signed a car note and was on the registration. Her son wrecked the car and severely injured others. Now she is in terrible financial trouble.
If my son fails to pay the note, and we have to step in to make the loan current, what legal right do we have to possess the vehicle if our name is not listed? Any at all?
Hello,
Sorry, I know this thread is very very old.
North Carolina: I understand if our name doesn't appear on the registration, we would have no liability, yes? My mother in law signed a car note and was on the registration. Her son wrecked the car and severely injured others. Now she is in terrible financial trouble.
If my son fails to pay the note, and we have to step in to make the loan current, what legal right do we have to possess the vehicle if our name is not listed? Any at all?
Zigner
Senior Member, Non-Attorney
Please start your own thread. Thank you.
