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Can I have a cosigner who doesn't have a valid driver's license?
I want to buy a new car, but need it financed. However, my only cosigner doesn't have a valid driver's license. Will this pose a problem?
Eric Schad · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“You should probably call the lender to get an answer. If the cosigner still has a valid form of identification (state ID or passport), you’ll probably be fine.
However, some lenders put the cosigner down as a driver on the account, and thus, they need a valid driver’s license. The only way to find out for sure is to ask your lender before you go in for closing.”
View full answer
- Gregory R.
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