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State of Arkansas - Vehicle Title Laws?
I don't know if the laws differ from state to state, that's why I included my state, but I would like to know if someone co-signs on a car loan does their name go on the title of the car? The place where the car was financed is one of those second chance car lots that does in house financing; basically, they were wanting a contact whom they knew personally to co-sign for someone whom they did not know. Thanks for any help you can offer...I've searched the Internet for an entire day and couldn't find an answer...
2 Answers
- oklatomLv 71 decade agoFavorite Answer
No. A cosigner has no right to the vehicle, and doesn't need to be included on the title. All the cosigner says is "I will make the payment if the person with the loan doesn't."
- ken kLv 71 decade ago
they are hedging their bet/if you dont pay they have a co-signer that they can go after/so its two people they can collect from if nec/standard procedure/can get that deal anyplace
