350nub

Anyone have experience co-signing a car lease?

If you co-sign a car lease, and the primary driver had an accident.
Are the cosigner liable for the accident if the victim sues her/him?

Are the insurance and registration title under both names?

Thanks!

kalvano

You're part owner, so yes, you could be liable.

<VENOM>

It works like a regular car with regular insurance, just some personal advise, don't co-sign if you think the driver is capable of causing an accident that all involved are gonna come after everyone who's name is on the so called paperwork, insurance also has limits that you can be sued for, cross your fingers that all that needs to be fixed in an accident is some cars

350nub

thanks guys...so my name would be on the insurance and the registration?? If under insurance, if the primary driver had an accident..as a co-signer would my insurance rate go up too even if i am not involved in it?

tex2670

It doesn't automatically go on the insurance. You need to make sure the primary driver includes you as covered.

350nub

Yes, but I as a cosigner do not want any part of the accident if I am not driving, and i will not drive the car if i cosign it.....so can i not put my name on the insurance?

kalvano

You don't have to go on the insurance, at least in Texas, but you are technically liable for the car.

So if there is ever a lawsuit, yes, you can be named in it.