Reported 3 days ago
If your cosigner passes away, continue making loan payments to avoid defaults and protect your credit. You're not obligated to inform your lender of the death unless you want to remove the cosigner from the loan or update information. If the primary borrower dies, the cosigner becomes fully responsible for the remaining payments, but ownership of the vehicle doesn’t automatically transfer to the cosigner. It’s crucial to stay informed about your loan terms and options, especially if rates change due to the absence of the cosigner.
Source: YAHOO