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Can a co-signer repossess a vehicle if a sibling is not making payments?
Wiki User
∙ 11y ago
The co-signer is typically a person who signs for the car loan; the co-signer may or may not be listed as a co-owner on the title.
If the co-signer is also a co-owner, the co-owner who is paying the loan can legally take the car. However, if the co-signer is not a co-owner, taking the car would be grand theft auto.
Incidentally, if the co-signer is not also a co-owner and the loan falls into default, both the signer and the co-signer will be identified in credit reports as defaulting on a car loan, even though the co-signer did not have or use the car.
Wiki User
∙ 11y ago
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If your cosigner defaults on other loans but you are making your payments can they repossess your vehicle?
No. You are the primary borrower and are honoring your financial obligation.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Can a bank repossess if the borrower defaults and there is a cosigner on the vehicle?
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
Can a cosigner repossess a car if the primary borrower stops making payments?
No. Only the lender can "repossess" a vehicle. You need to keep making the payments to protect your own credit. It is likely you would need to bring a court action, prove you are making the payments and petition the court to order a transfer of title.
What do you need to repossess a vehicle in Nevada?
You have to posses the title on the vehicle and the documentation that there is a default in payments.
Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
Is the cosigner of a vehicle responsible for the negligent operation of the vehicle?
No. A cosigner is just responsible for paying it off if the negligent driver wrecks it and and can't work to make the payments.
Is a cosigner's spouse responsible for the loan if he dies?
No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
Can the bank repossess a vehicle even if the payments are current?
Not IF you reaffirmed the loan with the creditor.
Can Ford deactivate the on board computer if you are behind on your payments?
No. They can, however, repossess your vehicle
If a car is in your name as the primary but your cosigner has been making payment for the last year and many of those payments have been paid late can you legally take that car from the cosigner?
Since the cosigners isn't paying, unless you start paying instead, and catch up on all late payments, the dealer or the bank will repossess the vehicle shortly anyway, so your question is moot.
