Co-signing a car loan - question on documents content?

[kris]

Urgent info needed.

I'm co-signing a car loan for my cousin (not enough credit history) and I received the paper work to sign. But, in the sales contract, purchase agreement and other documents (except Title application) my name is there as a buyer/purchaser. My cousins name is mentioned as a Co-Buyer.

Is this correct? What should happen ideally?

I thought my name would appear as a co-buyer and in 'notice to cosigner' I should sign on Cosigner line (but even in this document I'm being asked to sing on Buyer line).

What should I ask the dealer and loan provider to do?
Thanks guys. I know the risk I'm taking and I'm ready for it. Please let me know whether the paper work I mentioned is the correct thing or not.

 

[beatricesien]

You should ask the dealer about the details of the paper work. Make sure that you know all the purposes of the papers you are signing.


*** Loans in Philippines ***

 

[skyelangley]

I think the reason for this is because you cosign for a loan application, you're credit is the risk that's why your name is the purchaser. It is more advisable to ask your friend and the lender about this issue.

Loan in Philippines