My question involves a consumer law issue in the State of: Tennessee.
I recently was asked to co-sign a vehicle for my brother-in-law, my sister is expecting a baby, and their car was out of commission. They had been using my car for about 3 weeks, I work from home so this wasn’t too much of an issue for me.
When I got to the dealership after work, I asked if they have already done all the needed paper, and received the binder/proof of insurance. At this point the dealers sales person said they had, however I was not made aware during any of the transaction that I was actually being made the “buyer/owner,” and my brother-in-law was actually being made the co-signer. If I was made aware of this, they would never had made the sell or had the car leave the dealership. They knew that I was not going to be leaving with the car. “He was a first time car buyer, and had no clue what was happening.”
In the end there is now an issue “the car was involved in a wreck,” and is totaled.
The dealer never collected a binder or proof of insurance, they had somehow got my policy number for my vehicle, and used a policy for another car completely to sell the car. “Which after talking to my insurance company should not have been done, unless I was trading my car in.”
Is there anything that can be done about this?
1: They never disclosed that I was not the co-signer, but the buyer in the paperwork. “Just said yeah, sign here and you’re the co-signer.”
2: They allowed the car to leave the lot without the required proof of coverage for the vehicle.
3: I was never told that they actually collected my policy number and provided it to the finance company.
I recently was asked to co-sign a vehicle for my brother-in-law, my sister is expecting a baby, and their car was out of commission. They had been using my car for about 3 weeks, I work from home so this wasn’t too much of an issue for me.
When I got to the dealership after work, I asked if they have already done all the needed paper, and received the binder/proof of insurance. At this point the dealers sales person said they had, however I was not made aware during any of the transaction that I was actually being made the “buyer/owner,” and my brother-in-law was actually being made the co-signer. If I was made aware of this, they would never had made the sell or had the car leave the dealership. They knew that I was not going to be leaving with the car. “He was a first time car buyer, and had no clue what was happening.”
In the end there is now an issue “the car was involved in a wreck,” and is totaled.
The dealer never collected a binder or proof of insurance, they had somehow got my policy number for my vehicle, and used a policy for another car completely to sell the car. “Which after talking to my insurance company should not have been done, unless I was trading my car in.”
Is there anything that can be done about this?
1: They never disclosed that I was not the co-signer, but the buyer in the paperwork. “Just said yeah, sign here and you’re the co-signer.”
2: They allowed the car to leave the lot without the required proof of coverage for the vehicle.
3: I was never told that they actually collected my policy number and provided it to the finance company.
Sales Agreements: Co-Signing That Went Bad
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