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I belive you mean the lender or leinholder, and the answer is yes. especially if having insurance was part of the agreement for the loan or financing.
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∙ 12y ago
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If a car is stolen but there is no damage do i have to take it back?
If you have not settled with the insurance company you will have to take it back. If the insurance has paid out it is their car.
Can a cosigner take the car away from the borrower without permission from the borrower By towing it or using the second key to take the vehicle?
A co-signer is not an owner of the car. As such, the co-signer cannot take the car away from the borrower without the borrower's permission.
What if happens if you cosigned for car loan and the borrower files for bankruptcy?
if the consigner files bankruptcy can the borrower take the car
Can your car be repo if you have no insurance?
The repo man will not care if your car has insurance or not. If you haven't been paying for your car, the finance company or bank will take their car back.
Is it illegal to make payments on a car after the borrower is deceased?
The bank needs to know the borrower is deceased. I do not know if they would transfer the loan to you. Make sure your car insurance is also paid up.
Can a co-signer take possession of a car if the primary borrower does not have auto liability insurance in Texas but the lender has taken out insurance to cover the car?
Yes, They can because that means that the primary borrower has failed to meet the requirements of the lender by maintaining coverage on the car. You are already in Default and subject to Repossession by not having the vehicle insured. This failure also increases the risk to the cosigner who is a guarantor on the note. If they decide to Repossess the vehicle and call in the note, your cosigner can be sued and will be held jointly and separately liable for the entirety of original note he cosigned as well as any new charges that have been added due to the primary borrowers breech of contract.A co signer can take charge of the car if the person they cosigned for is not able or does not do what they agreed to. When a financial institution takes out insurance on the car it is to solely keep the institution from being sued, it is not to fix or cover the borrower in anyway, but the borrower will have to pay for the insurance that the financial institution takes out, they usually put it onto the end of the note. Best to keep insurance on the car.
Is it possible to back out of an auto purchase if you have the car in your possession but the main borrower has not signed any papers?
Even if the main borrower has signed the papers, legally you have 3 days from the time you sign the papers to be able to take the vehicle back and say you have changed your mind. So just take it back and say I've changed my mind.
Can you take a car back the next day because it has been wrecked?
You cannot take a car back because it has been wrecked. You are now responsible for the car and need to call your insurance to have it replaced or get it fixed.
CAN you BUY MY Car back after its totaled?
In some cases you can buy your car back from the insurance company or from the scrapyard if the vehicle is totaled. You will need to check your insurance policy to see what type of stance they take on this purchase.
Do you still have to make a car payment while you wait for your gap insurance to pay on an auto claim?
You don't have to, but they may take the car back.
Can a co borrower sell car without borrower consent?
no
If you and your dad are on the car title and you are the primary borrower can your dad get insurance for the car and just add you as a co-driver?
No. The owner of the vehicle is responsible for insuring it and the only way it would be valid.
