Can my Dad be sued if he cosigns an auto loan with me and I get in an accident with the car?

Question

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?

Answer 1

If he is on the title he will be liable. The title proves ownership. If you are a owner you can be liable. However the loan document is separate because he can co-sign and have financial responsiblity with no ownership rights.

Answer 2

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.

Answer 3

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Answer 4

Being a minor he is correct, but both parents can be sued and you cannot legally sign a loan contract anyway until you are 18, They can both be sued because until you turn 18 you are both parents  responsibility,

Answer 5

Only if you are under 18 or his name is on the title