Legal Question in Credit and Debt Law in Georgia

Unlikely, at least from injuries or damages directly from the accident. However, as you should know, you are relying on your "young nephew" to carry the proper insurance and be responsible for paying for a car that may not be worth the debt (in addition to making all payments as due). Co-signing is often one of the worst financial decisions a person can make. You get 100% of the liability for the debt, none of the benefits of the vehicle, and often a co-signer's credit is trashed before they even know there is a problem. You place your finances in the hands of your young nephew, who can't get credit on his own, and once you sign your name there is virtually nothing you can do to get out of it. A person should not even consider co-signing unless they are prepared to pay the debt themselves, and even then it is probably better to just loan the money or buy the car, and enter into a contract with the nephew to pay you back (and you keep a security interest in the title and the ability to repo the car).

The question you didn't ask is actually the one you needed to ask.

It's unlikely (although not impossible) that you could be sued over his accidents.

It is quite likely however that you will find that you have made a horrible mistake. Lenders ask for cosigners when they are pretty sure a person cannot or may not pay. If he ever makes a payment late, your credit will be seriously harmed. And if he makes late payments or misses a payment you may get sued for the debt and have to pay it, even though you have no rights to the car. It is almost always a huge mistake to cosign debts, and you should never cosign a debt you do not plan to pay.

Never ever co-sign for a loan for anyone, not even your mother. Its better to just give or lend the person the money or have him gete a car that he can afford all on his own. If he needs a co-signer this means either that he has no credit history or that he has bad credit. And if its the latter, you don't want involved as if your nephew doesn't make a payment, you are on the hook for the debt and yhou might not even find out about until after the car is repo'd. So don't co-sign.

Co-signing gives you no possessory interest in the car and it is very unlikely that you would be sued. While being listed as a part owner would be good since you would be able to act in case your nephew defaulted, it would also expose you to liability for a lawsuit if your nephew did not carry enough liability insurance on the car and seriously injured someone else.