What are a co-signer’s rights/responsibilities?

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

What are a co-signer’s rights/responsibilities?

I co-signed for an “as is” vehicle for my son 4 days ago. It is now in the shop for “check engine” light coming on. The car was financed as is. If bank decides not to fund the loan, will dealership be required to refund my $4,000 deposit?

Asked on August 15, 2012 under Bankruptcy Law, New Jersey

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

What does your contract with the dealer state?  Did it state "subject to the loan"?  I would consider taking the agremeent to an attorney on a consultation basis asap. "As is" means "as is" and I am afraid that if the necessary legal protections are not in the agreement you will have to explore other options like misrepresentation to get your money back.  Good luck.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption