Cosigner of an auto loan responsible??

Is the cosigner of an auto loan responsible for the loan if the loan was refinanced by the buyer without the knowledge or consent of the cosigner?

Cosigner of an auto loan responsible??

If the original loan was refinanced and you did not sign any paperwork you are no longer the co-signer.

You are very lucky, this is not the norm for co-signed deals.

Additional information, you should contact the lender A.S.A.P. and tell them, this is fraud.

Cosigner of an auto loan responsible??

If you didnt get consent of the cosigner then they couldnt possibly be a cosigner...A cosigner has to sign the papers just as the buyer would... So if the cosigner signed the papers then if the buyer doesnt pay they will go after the cosigner..

Cosigner of an auto loan responsible??

No the new loan wouldn't have anything to do with the orginal loan, it is the best thing that can happen to a cosigner.

Cosigner of an auto loan responsible??

yup

Cosigner of an auto loan responsible??

Co-signer is responsible on all default loan. The co-signer has guranteed the loan due to th efact the borrower was not credit worthy. If the co-signer was not aware, then there was some very questionable legal matter. Did someone sign the co-signer's name and also provide false information? Or the co-signer just didn't understand what he/she is signing? If it is, that is bad news to the co-signer.

Cosigner of an auto loan responsible??

If the co-signer signed it, yes. If not then there is a possible fraud.