Can a cobuyer refinance a auto loan and remove the buyer from loan?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

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.
12 people found this useful

When an auto loan is in default in the state of NC is the buyer or co-buyer primarily responsible?

Answer . Both the buyer and co-buyer are equally and completely responsible. All parties on a contract are 100% responsible to pay the note in full per the terms of the contract. Neither person is "more" responsible than the other. My suggestion is to help the bank find the auto and they may cut ( Full Answer )

If you are the primary on an auto loan for your ex-girlfriend and she co-signed can you refinance to make her the primary?

"Co" signers are equally responsible, so there is no difference between being first or second on the loan. If you're trying to make her be the only one responbible for the loan, she would have to re-finance on her own. If you are both on the title, she would have to buy the car from both of you and ( Full Answer )

Can you refinance an auto loan before a year?

Answer . \nyes - you can refinance an auto loan at any time. You will want to make sure you current bank does not charge a prepayment penalty though.

Where can you get an auto loan?

You can usually obtain an auto loan from the dealership you are purchasing from. If the establishment or private seller does not offer financing you can go to your personal bank to get an auto loan. Sometimes local credit unions will allow you to open an account with them, they usually have slightly ( Full Answer )

How to Remove a co-signer from an auto loan?

Answer Refinance the loan in your own name. Be sure your credit rating is better than it was when you needed co-signer or else your APR and monthly payments might go up depending on size of amount owed and year of vehicle being financed.

What are Auto Loans?

Any loan means you've asked for money-on-credit from a lender. An auto loan money-on-credit from a lender, usually a bank, credit bureau, or dealership, given specifically to buy a car, and typically to buy a certain car that you've already picked out before the loan was approved.

Are auto loans secured loans?

Yes, they are. An auto loan is secured loan based on the collateral of your vehicle. If you don't pay the loan they will unfortunately come take your car away.

Is an auto loan a personal loan?

An auto loan and a personal loan are both loans. Personal loans canbe secured or unsecured. Secured meaning that there is some form ofcollateral to back up the loan in the event that the borrowerdefaults. Unsecured loans have no collateral which usuallytranslates into higher interest rates due to th ( Full Answer )

Can a buyer remove a co-buyer from auto loan?

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 ( Full Answer )

How do you refinance a loan?

There are multiple ways to refinance a loan. Most of the time a person would call their institution and make the request. This might come with a fee. Another way is to seek out a different institution with a better rate and term. Do your homework before approaching institutions.

What legal action does the cobuyer have if the buyer doesnt pay the payments for the car loan?

Don't know of any state that allows a co-buyer. There might be. For this purpose, let's use co-signer. What legal action does the co-signer have if the buyer doesn't make the car payments? In reality, the co-signer signed as a guarantee that the payment would be made and on time on the specified dat ( Full Answer )

Can you refinance an auto loan when you owe more than it is worth?

Absolutely. Most people who are refinancing a car loan are, indeed, underwater.The reason is that your car value depreciates much faster than theloan is paid down. Lenders understand that the LTV will be above 100%, which is whymost have LTV threshold around 115-125% (depending on creditworthiness ( Full Answer )

What rate does PNC Bank charge to refinance and auto Loan?

The rate that PNC Bank charges will depend on several factors. First of all, rates vary by states. Secondly, the rate is generally lower if you choose larger payments, and higher for smaller payments. Their most popular plan is at a 3.05% rate in my area.

Does a co buyer have rights to the auto loan payments?

The lender has the right to receive all the payments. A co-buyer has no rights TO the payments. The co-buyer is equally responsible for making the payments. The lender has the right to receive all the payments. A co-buyer has no rights TO the payments. The co-buyer is equally responsible ( Full Answer )

How would you refinance an auto loan?

You can refinance an auto loan at any place you can get an auto loan. It may be best to use an agency in which you have already gotten a loan through before.

What exactly is refinance auto loan?

To refinance an auto loan, work with your bank or credit union to pay off your existing loan and get better or more spread-out terms for a new loan. Often, it is not worth the hassle of refinancing, unless your current interest rate is 1 to 1-1/2 points higher than what you could get with a new loan ( Full Answer )

What does it mean to refinance an auto loan?

If you refinance your auto loan you are most likely going to save a lot of money. However most people do not know this. You pay off your current car loan with a refinancing car loan from a different lender.

What are the qualifications of refinance auto loan?

In order to be qualified for refinance auto loans, most companies require that you be over the age of 18, that you posses a valid drivers license, you must be a current US Citizen, you must have a yearly salary of 26,000 or act as a cosigner, and you must have proof of a current auto insurance.

Is it possible to refinance an auto loan?

It is possible to refinance an auto loan. Refinancing offers the opportunity to lower your interest rate and save money over the term of your loan, which lowers your monthly payment.

Whats the best place to refinance an auto loan?

Bank of America (BAC) offers auto loan refinance programs with interest rates as low as 3.74%. Also bankrate offers a calculator to figure auto loan payments.

How is repayment structured on auto loan refinance?

When an auto loan is refinanced, repayment is structured depending on the amount outstanding on the loan and the amount of months left to repay at time of refinancing. This may enable a person to save extra money by lowering the cost of the loan payments.

What are two tips for someone with bad credit trying to refinance an auto loan?

One should pay off their existing car loan with a new loan of lower APR. This lowers the interest rates of the new loan, which is a very good idea. Using different websites which show refinancing auto loan rates, they can help one save a few percent and their monthly payments are lowered.

Where can one find information on auto loan refinance rates?

You can find information on auto loan refinance rates through your local bank website or branch. You can also find out about them by contacting the company you originally received the loan from and asking if they can give you some information and if you would qualify.

Where can one refinance their auto loan?

One can refinance their auto loan at any bank. One simply has to apply for an auto refinance loan. It is important to compare all of the available options; that way a lot of money can be saved.

Where can someone with bad credit refinance an auto loan?

Reputable lenders are likely to be the only solution if someone has developed bad credit. An auto loan is a loan taken out against a person's car, and if the payments are extremely high for any reason, it is likely that the person will not be able to afford the repayments.

How can a person refinance an auto loan with bad credit?

There are some finance companies that will offer credit to people who have bad credit ratings. However caution should be taken as the interest is likely to be very high when choosing this option.

Where can you get an auto loan refinance with bad credit?

There are hundreds of companies which will offer you auto loan refinancing, however it is important to research the company first to make sure it is not a scam or a predatory lender. A website like Bankrate is both free and objective, so it is a good resource to find safe and reliable refinancing co ( Full Answer )