If I co-signed a car lease for my 21 year old daughter and now she’s unemployed and unable to make payments, can I be released from the payments?

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If I co-signed a car lease for my 21 year old daughter and now she’s unemployed and unable to make payments, can I be released from the payments?

She lost her job and I have been paying her car and insurance. I am retired and cannot continue to help her.

Asked on October 20, 2014 under Business Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

No, you cannot be released from the payments unless *all* parties to the lease--that is, your daughter and the dealership or financing company (whomever  you signed the lease with) agree to release you; one party to a contact cannot be let out of his or her obligations unless every party agrees to it. The fact that you are retired, that you may not be able to afford the payments, etc. is not a defense to the liability you voluntarily took on when you signed the lease. Becoming a co-signer means being responsible for the payments no matter how hard or inconvenient they are if the mainn signer cannot or does not pay them.


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