My husband signed a car lease for a friend. He told me he was co-signing because his friend had bad credit even though I objected to that and asked why his friend can’t just buy a used car. Then at the last second, my husband told me that his friend’s credit “was so bad he had to take out the whole loan” in my husband’s name only.
Can you help me explain to him why this was a very bad idea, and why it’s not “none of my business,” as he says? What options do I have to get us out of this mess before we lose everything?You can email The Moneyist with any financial and ethical questions related to coronavirus at qfottrell@marketwatch.com.Your problems go way beyond this car loan. Your husband’s willingness to take out a loan on behalf of a friend, and endure these collection notices raises many red flags.
— The Moneyist The firm cites the legal principles of negligent entrustment and negligent maintenance. The first involves “entrusting your vehicle to someone who was unfit to drive.” Negligent maintenance “is the failure to properly maintain your vehicle, presenting a safety risk for anyone driving the car. This term ‘negligent maintenance’ is used because you have a duty to other drivers to keep your car in safe, working condition as to minimize the risk of an accident.
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Quantanamo Maybe this is when he is gonna Learn to Always Listen! & be Truthful! And he'll Wake Up! Let's Hope All is gonna work OUT
Quantanamo Sure sounds like that’s a car for a secret ‘friend.’
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