If you cosign for a car loan, are you responsible for other costs or fees associated with the car? For example, if the car owner gets into an accident, could you be required to pay the towing fees?
If you cosign for a car loan, are you responsible for other costs or fees associated with the car? For example, if the car owner gets into an accident, could you be required to pay the towing fees?
When you guarantee a car loan you can expect that the lender will contractually hold you liable for any charges incurred by the lender. That is not ordinarily going to include towing fees, unless they're part of a repossession. The only way to be certain about what you're promising to pay is to read your contract.