If I co-sign for a car loanbut my name is not on the title, can I be held liable if an accident happens?

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If I co-sign for a car loanbut my name is not on the title, can I be held liable if an accident happens?

Asked on January 5, 2012 under Accident Law, Illinois

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If you simply co-signed for a loan for a person to purchase the vehicle that you are writing about and the vehicle was involved in an accident, I fail to see any factual or legal basis for you to be named as a defendant in a lawsuit simply because you co-signed for the loan but are not on registered title.

However, if you were driving the vehicle or somehow did something that caused the accident, very well there could be a basis for you to be named in a lawsuit concerning a mishap involving the car you are writing about.


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