Auto Car Loan
Can my Dad be sued if he cosigns an auto loan with me and I get in an accident with the car?
I am a minor living with my mom, my dad says he cannot cosign a car loan for me because he could be sued if I got in an accident with another vehicle, is there any truth to this? if so is there a way to make it so he is not liable?
Yes. If you’re a minor, either or both of your parents can be sued, if you are in an accident with any car.
The cosigning has nothing to do with it.
If he cosigns the loan, and is NOT on the title, and you are NOT a minor, then he can’t be sued. BUT, most likely, the lender will require his name to be on the title of the car – which means, he’s part OWNER of the car, and then, of course, he can be sued, also.
You can’t get out of liability, if you’re the owner of a car, or the parent of a child. You’re stuck with it.