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Loren
Loren, Attorney
Category: Legal
Satisfied Customers: 33504
Experience:  30 years experience representing clients.
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I thought I was co signing for my niece to purchase a car

Customer Question

I thought I was co signing for my niece to purchase a car from DARCAR Chrysler in Marlow Heights Md. and instead of being a co signer it's a co applicant. I sign the paperwork to be a co- applicant and our loan application from over 6 banks were denied. DARCAR Chrysler changes the paperwork and makes me the primary buyer without my signature or permission. I agreed to be a co-signer only to establish my niece's credit so that in 6 months she could refinance in solely her name. Can they switch the names on the application and make be the primary buyer without my consent?
JA: What state is this in? And how old is the car?
Customer: Maryland, it's a 2016 Dodge Charger
JA: Has anything been filed or reported?
Customer: I went to them the dealership and complained, that's it so far nothing filed or reported
JA: Anything else you want the lawyer to know before I connect you?
Customer: nothing I can think of
Submitted: 3 months ago.
Category: Legal
Expert:  Loren replied 3 months ago.
Good morning. I am Loren, a licensed attorney, and I look forward to assisting you today.
Expert:  Loren replied 3 months ago.
A co signer has the same liability as the other borrower. In other words, you can be held to the same liability as your neice if you co sign a loan.
If you want secondary liability, you will want to be a guarantor, not a co signer.
Expert:  Loren replied 3 months ago.
Additionally, you need to have any limitations on the guaranty to be stated in the actual guaranty document. Any verbal assurance would be unenforceable.
Expert:  Loren replied 3 months ago.
Are you online with me?
Customer: replied 3 months ago.
I sign to be a co- applicant with my niece and with her being the primary buyer we were rejected, how could they make me the primary buyer without my permission? That's what I'm not understanding. It is a different; a co-applicant and primary buyer is different, if it wasn't why wasn't it approved with her being the primary. I would not have agreed to be the primary.
Customer: replied 3 months ago.
I don't need anymore charges. What they did does not seem legal.
Expert:  Loren replied 3 months ago.

Hopefully, you have not signed anything more than an application. If you have signed a note already then it is too late.

Expert:  Loren replied 3 months ago.

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