If a vehicle is repossessed cosigner responsible for 100 percent of the balance?

In most cases, yes. When you cosign a loan, you are legally responsible for the debt if the primary borrower defaults. This means that if the primary borrower stops making payments on the loan, the lender can come after you for the full amount of the debt. This includes any unpaid principal, interest, fees, and costs.

There are a few exceptions to this rule. For example, in some states, cosigners may be released from their obligations if the primary borrower files for bankruptcy. However, these exceptions are rare. In general, cosigners should be aware that they are taking on a significant financial risk when they cosign a loan.

So before you cosign a loan, make sure you understand the risks involved. Talk to the lender about the terms of the loan, and make sure you are comfortable with your obligations. You should also get a copy of the loan agreement in writing and review it carefully before you sign it.