Does a cosigner need a driver s licence

 · In this case, a parent will be a co-signer on the loan, and will also likely provide proof of auto insurance for the debtor, and guarantee that the payments will be made regardless of whether or not the student gets the license as planned. In such a case, the lender will likely complete the loan without a driver's license.  · In your situation it makes no difference that you had no driver's license when you co-signed for the car's loan. All that matters is that you signed the loan and you were over 18 years of age. Your best way to resolve the situation is to get the person who is primarily responsible under the loan to make payments on it so that you do not have to.  · If the cosigner still has a valid form of identification (state ID or passport), you’ll probably be fine. However, some lenders put the cosigner down as a driver on the account, and thus, they need a valid driver’s license. The only way to find out for sure is to ask your lender before you go in for closing.”. Car Loans.

In this case, a parent will be a co-signer on the loan, and will also likely provide proof of auto insurance for the debtor, and guarantee that the payments will be made regardless of whether or not the student gets the license as planned. In such a case, the lender will likely complete the loan without a driver's license. you do need a drivers license for a 49cc, anything above and it will require registration and insurance and yo uwill need a motorcycle endorsement. Do cosigners for vehicles need a license?. It's not uncommon for a new driver to get not just better interest rates but also good sound financial advice from a cosigner. See what kind of interest rates you can get All of these contribute to the vast amount of younger drivers who seek a cosigner on their first auto loan, rather than choosing to go it alone and risk dealing with high.

Not having a driver's licence means you can own a car but not drive it on public roads yourself. You will need a licensed individual to. All original, renewal or replacement driver license and identification cards issued, will now have a gold star to indicate they are Real ID compliant. You may. Application for: Driver License Identification Card ___ Do you have a health condition that may impede communication with a peace List state(s).