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Forum
-> Household Management
-> Finances
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amother
Smokey
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 Tue, Dec 04 2018, 4:37 pm
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A friend leased a car under my name. Does it in any way affect my credit? Constantly getting tickets (parking/ ezpass) and they're not paid when due.
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thunderstorm
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Tue, Dec 04 2018, 4:49 pm
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If you are a co signer on the lease and she defaults on the lease then it will affect your credit.
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amother
Brown
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Tue, Dec 04 2018, 4:51 pm
| thunderstorm wrote: | | If you are a co signer on the lease and she defaults on the lease then it will affect your credit. |
It sounds like the lease is in OP's name. The friend does not sound responsible.
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simba
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Tue, Dec 04 2018, 5:11 pm
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If they have unpaid bills that get reported to the credit agencies it will effect your credit. I would tell my friend that you need everything taken off your name. She needs to transfer the lease and registration.
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Bsimcha
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Tue, Dec 04 2018, 5:39 pm
It's really difficult to change names on a lease.
I don't believe parking and ez pass tickets will affect your credit, only if she doesn't pay the lease. Insurance non payment, accidents in your car can be an issue too as it's in your name.
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Amarante
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Tue, Dec 04 2018, 6:25 pm
Who is the car registered to?
If a car is registered to a person, they are legally responsible for everything that happens with the car - e.g. an accident or parking tickets.
Your insurance could be impacted based on behavior of people driving a car that is registered to you.
Why would you ever have this kind of arrangement for a friend - most people would be reluctant to do it for a family member because of the legal implications in terms of liability let alone for a flakey friend.
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ra_mom
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Tue, Dec 04 2018, 6:34 pm
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Oy vay. This is a very bad situation.
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