What Rights Does a Cosigner on an Auto Loan Have?
Fotolia.com”> jQuery(document).ready(function(){ jQuery(‘#jsArticleStep1 span.image a:first’).attr(‘href’,’http://i.ehow.co.uk/images/a06/0f/fa/rights-cosigner-auto-loan-have_-1.1-800X800.jpg’); }); Being a co-signer on an auto loan is not the same as being a co-owner of a car. If you want to buy a car and can’t pay for it in cash, you have to obtain financing from either the car company or another approved lending institution. If you have a bad credit rating, you may find it difficult or impossible to find financing for your car. In this situation, you can enlist the help of a co-signer with better credit to help you finance the purchase. If you are choosing to co-sign someone else’s loan, you should be aware of your rights and responsibilities before you do. Ownership Rights As with any contract, if you co-sign someone else’s car loan, make sure you get a copy of the contract and thoroughly read what you are signing. Usually, if you are co-signing a car loan, you have some form of re
