HomeCan a cosigner repossess a car if the primary borrower stops making payments?
Wiki User
2017-10-10 17:27:51
2017-10-10 17:27:51
Unless you are listed on the TITLE as co-owner, NO.
Wiki User
2017-10-10 17:25:19
2017-10-10 17:25:19
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.
Related Questions
No. You are the primary borrower and are honoring your financial obligation.
No, but if the borrower misses enough payments, the cosigner will start getting collection calls as well.
If the cosignatory is willing to take over the payments, and the creditor agrees. But if the primary borrower rufuses to cede posession then yes.
Only if the cosigner is also named on the vehicle title.
No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make the payments.
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