If I cosign a note for my adult son to purchase a car and my name is not on the title, can I be held legally responsible in case he is in an accident and gets sued?

He has his own insurance and a good driving record.

Asked on August 27, 2014 under Accident Law, North Carolina


Anne Brady / Law Office of Anne Brady

Answered 6 years ago | Contributor

No, you will not be held legally responsible in your son's automobile accident simply because you cosigned the loan.  If he causes an accident, his insurance will be on the hook for the other driver's damages up to the policy limits, at which point your son could be personally liable, but not you.  You are simply guaranteeing that if your son does not make the car payment, you will, and if you don't the lender can get a judgment against you for whatever is owed on the car loan.

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