I know that in the state I live in most financing companies will make sure it is a And not an Or due to having the payments be met by both accompanying consumers. If it is an or and the payment is not met they can't completely blame both of the consumers due to certain plans. I know if it is a new vehicle it is suitable for an or due to a contract signed and written by the dealerships. I hope this helps you out atleast a little bit my best advice is to go to the financing company and try to get a contract written up but make sure both parties are there to sign the contract.
yes
From what I have read, no, a underwriter cannot stipulate who goes on the title if the loan is in more than one person's name. Normally, both names that are on a loan have to go on the title of the purchase from the loan.
Not without refinancing the existing loan and changing the names on the title to the property..
The lender will probably insist that all names on the title also be on the loan, but not the other way around.
No, if your name is one of the two on the title. That makes the car as much your property as it is theirs. If you intentionally deprive them of the use of the car by hiding or destroying it, then it becomes a civil matter - not criminal.
Yes. How many names are on the title and/or the loan means absolutely nothing... so long as there is a lien on that vehicle, that lienholder is the sole lawful owner of that vehicle, and can repossess it as recourse for delinquent payments.
Yep.
If two names are on the title seperated by a comma. What does this mean?
In order to refinance even in one persons name, anyone else who is on title must be present at closing. You can't legally refinance a home unless all people on title are present at closing. In any case names on a loan do not directly reflect names on title, you can have one person on a loan and 5 people on title.
You can cosign but both names will be on title.
Yes, the loan can be in one sole persons name, but the title can remain in two peoples names or be transfered into one. If you need some help with this I handle situations like this all the time give me a call 214)607-1445.
Not in NY state. Others may be different. Check at your DMV.