When my DD was 25, she had a relatively good driving record, but insurance would be much more expensive if car in her name. Not certain why anyone would put in Grandpas name
Did your father co-sign for it? Is ur fathers signature on the paperwork? I
This is how it works in my part of NJ now. There is no more "co-signer" its "co-owner". The person with the good credit becomes the owner #1 of the car but owner #2 makes payments and gets credit for making those payments. This helps the owner #2s credit. The title is in owner #1s name though. So, once paid off, owner #1 should transfer the title over to owner #2. If owner #2 defaults the payments fall on owner #1 and will effect his credit.
Read the dealer contract to see if I am correct. If its still confusing, go back to the dealership and have them explain. I have a feeling that the Grandson had no credit or a low credit score and the only way he could get the car was Granddad being the #1 owner.
You posted earlier and have not responded to questions asked:
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Take some time and reread your first thread, then address the issues we raised as well as the ones being raised in this thread.
These are interactive threads- you'll get more targeted responses if we understand what your real issues are, and that requires response from you.
Help us out, okay??
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This is how it works in my part of NJ now. There is no more "co-signer" its "co-owner". The person with the good credit becomes the owner #1 of the car but owner #2 makes payments and gets credit for making those payments. This helps the owner #2s credit. The title is in owner #1s name though. So, once paid off, owner #1 should transfer the title over to owner #2. If owner #2 defaults the payments fall on owner #1 and will effect his credit.
Read the dealer contract to see if I am correct. If its still confusing, go back to the dealership and have them explain. I have a feeling that the Grandson had no credit or a low credit score and the only way he could get the car was Granddad being the #1 owner.
You posted earlier and have not responded to questions asked:
https://www.agingcare.com/questions/my-father-93-has-a-will-his-grandson-thinks-hes-getting-the-house-when-my-father-dies-can-he-contest-456983.htm