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Well, it depends how the title was written. if it says buyer "or" cobuyer you dont need the other persons signature for anything .... if its written with "and" between your two names, u will have to have both people present to complete any removals or transfers. That or you can have the cobuyer sell u the car. They will still need to be present though.

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โˆ™ 2012-10-05 08:27:35
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Q: Can a buyer remove a co-buyer from auto loan?
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Can a cobuyer refinance a auto loan and remove the buyer from loan?

Buy cobuyer I wonder if you mean cosigner on a loan. If this is the case then the answer is no. As a cosigner you are simply agreeing to pay the loan if the person who took it out does not. It is in his or her name and you are responsible for it if they do not pay it.


Who is responsible for the auto loan buyer or cobuyer?

If the buyer does not pay the loan, then the lender comes after the co-signer. Late payments affect both credit reports. Most recommendations are not to co-sign a loan.


Your ex has filed bankruptcy and you are a cobuyer on the auto loan what will happen now?

You will be responsible for the loan payments


Can a primary buyer have a co buyer removed from an auto loan if the co buyer was never needed to get the loan?

That will be up to the LENDER.


Can the primany buyer of an auto loan refinance the auto loan in the cosigner's name only?

No. The cosigner would have to apply for a loan in their name using their credit, income data.


If there is a buyer and co-buyer and the buyer does not want the auto can the co-buyer take over the loan because the buyer gets all the credit?

The co-buyer should contact the LENDER and ask to have the buyer removed from the loan. Nothing can be done legally without the LENDERS approval.


Upon signing a contract where it says Primary Buyer and Co-Buyer where is a Co-Signer supposed to sign?

Cobuyer, cosigner, they are the same thing. Wherever you sign as co-signer you should be aware that if the primary borrower defaults on payments you will be held equally responsible for paying the loan.


How do you get a co-buyer off of a car loan if they are in default?

You don't. If the cobuyer has possession of the vehicle and is no longer making payments, you as the buyer may take possession and either take up and make current the payments, or voluntarily surrender the vehicle. Failure to do so will result in repossession, and will adversely affect your credit.


How do you remove your name from a joint auto loan?

The car loan will have to be paid off in order to remove your name. The other signer will have to get a new loan in her/his name only.


If a co-buyer is on the contract and is making the payments does the co-buyer receive the credit points or does the buyer?

Both the co-buyer and the buyer get the credit and the blame if the loan is not paid. Co-signing on the loan is the same as getting the loan.


Who will own the propertythe buyer or co-buyer when the loan is paid off?

The deed supersedes the loan.


Is the co-buyer responsible for the loan if the buyer dies?

yes

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