Yes..If they paid you for the vehicle it now belongs to them..Other than that if you're paid up then the car belongs to you.
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
Contact whomever holds the lien, they will allow you to make payments and take posession of said vehicle if signor has ceased to make payments. I have already contacted the lien holder and they advised me that they would not get involved with me taking possession of the vehicle. All they wanted from me were back payments. I brought the payments up to date. Now I want to get the vehicle in my possession. Unfortunately I have been unsuccessful at contacting the person I cosigned for. I've even heard that he may have moved out of Michigan. I have a copy of the Michigan registration showing myself as an owner. I am currently awaiting documentation from the state that I am on the title. What is my next step towards getting possession of the car?
Two things to consider here: First, the cosigner is an equal owner of the vehicle regardless of whether or not any payment has been made by him. This is a matter of contract law. Second, and typically in cases where payments are not current, the cosigner/co-owner can take possession of the vehicle to protect his credit if his intention is to surrender the unit or to make payments current.
Only if your name is on the title, and only if the primary borrower defaults and the vehicle is subject to being repossessed by the lender.
They might be able to garnish your payments for the money that you owe them , but nothing more since vehicle has been repossessed.
Yes. It is perfectly legal for a repossession agent to take possession of a vehicle when they are acting on behalf of the lender. The repossession agency does not have the option of allowing the borrower to retain the vehicle even though proof is presented that payments have been rendered. Such issues are strictly between the borrower and the lender. The lender and/or court being the only parties that can rescind the repossession action.
Of course not. The car has not been stolen. But guess who is going to have to make the payments if the primary lender does not. You the cosigner, that's who. I would suggest you talk to the person you cosigned the loan for. If I were going to have to make the payments I would for sure try to gain possession of the vehicle. This is the very reason cosigning is a bad idea.
While I am not familiar with this "30 day hold," but the lien holder of a vehicle may take possession of the vehicle at any time after the loan has been defaulted. That is if you the borrower go delinquent on payments, and the vehicle is impounded (potentially for parking violations or excess unpaid tickets), the lien holder will receive notice. Actually they receive notice of impound even if you are not delinquent. If the lien holder pays the outstanding impound and storage fees, they may take possession of the vehicle.
A lien can be placed on a vehicle in Ontario by a mechanic or an automobile repair shop. This lien is often placed on the vehicle when there is a repair bill due and it has not been paid. The lien will be lifted when the bill has been paid in full.
You need to bring a lawsuit and ask the court to order the title be transferred to you. You need a copy of the note that you signed and proof you have been making the payments and for how long. The lender must be in possession of the Certificate of Title. You will need a court order to transfer the title to your name with the help of the lender and it will be up to the judge.You need to bring a lawsuit and ask the court to order the title be transferred to you. You need a copy of the note that you signed and proof you have been making the payments and for how long. The lender must be in possession of the Certificate of Title. You will need a court order to transfer the title to your name with the help of the lender and it will be up to the judge.You need to bring a lawsuit and ask the court to order the title be transferred to you. You need a copy of the note that you signed and proof you have been making the payments and for how long. The lender must be in possession of the Certificate of Title. You will need a court order to transfer the title to your name with the help of the lender and it will be up to the judge.You need to bring a lawsuit and ask the court to order the title be transferred to you. You need a copy of the note that you signed and proof you have been making the payments and for how long. The lender must be in possession of the Certificate of Title. You will need a court order to transfer the title to your name with the help of the lender and it will be up to the judge.
Don, IF your name is on the title as co-owner, you would just be taking possession of your own car. If its NOT on the title, you cant take possession legally.Why not go to the person in possession and tell them to give up the car??
The most common type of repossession notice when a person has not been making loan payments for a car or truck. If the lender does not receive payments, the vehicle may be towed away.