No the co-signer is on for the life of the loan
Yes when you pay off your auto loan the payment should be made to the lender. In fact all auto loan payments should be made to the lender who financed the loan.
Auto loan rates show the person receiving the loan the amount of interest a receiver will pay for the loan. A high rate will mean that it will take longer to pay off due to more money needing to be paid for the interest.
Yes you can pay off an loan as early as you'd like.
The loan needs to be re-financed and be assumed solely by the person who originated the loan. The original person will need to have a worthy credit rating in order to escape the need for a co-signer.
what is the responsibility of a grantor, putting up security example car if the person that has taken out the loan has not paid the loan off in full what is the responsibility of a guarantor
The only way to be removed is to have the loan refinanced by the primary borrower without the participation of the cosigner.
There are usually no early settlement charges if you want to pay an auto loan off early. There will be charges if you pay an auto loan off later than scheduled.
They would need to have the vehicle refinanced in their name only or obtain another cosigner for the refinancing.
There are no penalties for prepaying a bad credit auto loan. It is beneficial to pay off the loan sooner or on time.
An auto loan calculator helps in figuring out the amount of the monthly auto loan payments and the paid-off date if all payment are made, based on the auto loan amount, term, interest rate, and start date. It can also help figure out how extra payments change the paid-off date.
A auto refinance loan is basically a loan you take out on your vehicle that pays off the loan that you have already taken out on your vehicle. The new car loan will be at a lower interest rate, for a longer period, or both. The concept is somewhat similar to home refinancing your but the process isn't nearly as complex and it's usually much faster.