ANSWERS: 3
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My understanding is that they can demand it and the owner can refuse. The trick would be to get something in writing prior to obligating oneself as co-signer.
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Whatever i co-signed, would have my name on it. If i have to pay for a car, because of the other parties default, i want to make sure the car comes to me and not to the finance company or bank. Make these arrangements first, before signing anything.
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Here is the thing, no one is requiring the co-signer to co-sign. So he or she can make whatever demands he or she wants to make and if the person needing the help refuses. the co-signer is free to walk away. I am with John. I would want my name on there.
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