Question on Co-signing a LEASE
Thread Starter
Pole Position
Joined: Nov 2007
Posts: 323
Likes: 0
From: ca
Question on Co-signing a LEASE
Anyone have experience co-signing a car lease?
If you co-sign a car lease, and the primary driver had an accident.
Are the cosigner liable for the accident if the victim sues her/him?
Are the insurance and registration title under both names?
Thanks!
If you co-sign a car lease, and the primary driver had an accident.
Are the cosigner liable for the accident if the victim sues her/him?
Are the insurance and registration title under both names?
Thanks!
Lexus Champion
Joined: Jan 2003
Posts: 2,618
Likes: 0
From: NYC/ATL
It works like a regular car with regular insurance, just some personal advise, don't co-sign if you think the driver is capable of causing an accident that all involved are gonna come after everyone who's name is on the so called paperwork, insurance also has limits that you can be sued for, cross your fingers that all that needs to be fixed in an accident is some cars
Thread Starter
Pole Position
Joined: Nov 2007
Posts: 323
Likes: 0
From: ca
thanks guys...so my name would be on the insurance and the registration?? If under insurance, if the primary driver had an accident..as a co-signer would my insurance rate go up too even if i am not involved in it?
Lexus Champion
Joined: Apr 2007
Posts: 11,118
Likes: 123
From: Southeastern PA
It doesn't automatically go on the insurance. You need to make sure the primary driver includes you as covered.
Lead Lap
Joined: Oct 2008
Posts: 667
Likes: 0
From: Texas
So if there is ever a lawsuit, yes, you can be named in it.
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diablo1
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May 8, 2006 06:56 AM
