How can the co-signer on an auto protect themselves from liabikity in the event of a car accident?

UPDATED: Apr 12, 2012

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How can the co-signer on an auto protect themselves from liabikity in the event of a car accident?

My wife signed for the purchase and financing of a car for her adult daughter, who was unable to get credit. Is there a way to protect my wife and me legally if daughter has an accident?

Asked on April 12, 2012 under Accident Law, California


Madan Ahluwalia / Ahluwalia Law P. C.

Answered 10 years ago | Contributor

As owner of the vehicle, you are liable, if she gets into a car accident.

Have proper insurance. Make sure she pays the premium.

Buy sufficient umbrella coverage.

Refinance when she builds enough credit.

Look into Estate Planning tools. Contat an Estate Planning attorney.

Other than that, No!

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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