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When you fail to make payments, they go after the co-signer. It can affect his credit. If he makes the payments he can take the car. You wouldn't want to make payments for someone else's car.

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โˆ™ 2008-09-22 23:10:46
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Q: Does a co-signer have the right to take the car if you are behind on payments?
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Related questions

Can a cosigner take the vehicle even if no payments are late?

NO! He is only guaranteeing the loan. He has no legal right to take the car.


Do you have a right to take a car away if you are the cosigner?

Well if the original person that you co-signed with defaults on the payments and you are stuck with the payments, technically it is your vehicle and you can take the person to court and take control of the vehicle.


Does a cosigner have the right to take possession of the car when the primary borrower has made all the payments and has not defaulted on the loan?

No, a cosigner has no legal rights to a vehicle unless his or her name appears on the vehicle title.


Can your cosigner take your car if you have been making payments on time?

The cosigner issue here is misplaced. The liability of a cosigner comes into play if the primary owner of the car cannot make payments. In the case presented, the primary borrower is doing fine. There is nothing a cosigner can do to take a car away.


Can a cosigner take possession of a car if the primary signer is not paying the payments?

Not unless the the cosigner is on the vehicle title. If not on the title the only entitlement the cosigner has is to pay the bill.


Your name is the first name after the leasing company on the title your cosigner is trying to take your car you've made all your payments on time can they force you to give up your car?

I had this very same instance come up and the police were called. They told me that as long as the payments were being made and you have proof of you making the payments on time, the cosigner has to leg to stand on when trying to take the car. So NO your cosigner can not take the car.


If the borrower cannot make the payments but the cosigner does can the mortgage company still take the house?

Not if the cosigner has been making the payments on time. But often the cosigner doesn't know the loan is in default until it is past due 30 days or more, so if you have received two or three (depends on state laws) Right To Cure Default letters, the bank can foreclose.


If the cosigner is on the title can they take vehicle if person is not making the payments?

Yes..... I did


Can a cosigner take property if they haven't made any payments?

a co signer has a right to protect their credit- if you are not paying then legal action can be taken by the co signer


Can a cosigner take away your car even though payments are not delinquent?

No. Unless the cosigner is also a title holder they have no legal rights to the vehicle.


Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?

Only if the cosigner is also named on the vehicle title.


Does a cosigner have legal rights to take your car if the borrower never defaults on payments?

No. He/she simply has to pay the loan if you don't. Has no real right to the car even if you do miss payments. Has to go to court and show you have defaulted on the loan and has paid on it.


How can the cosigner of a car immediately have possession of it after it was repossessed by the bank?

When you cosign for anyone you are taking 100% responsibility for the payments on that car. If the person that gets the car doesn't keep their payments up it will be repossessed by the bank with an option for the cosigner to take over payments or sell the car and pay back the loan. Marcy


What are the rights of a cosigner?

A cosigner is a person who signs with another person for a loan of some sort due to credit issues or financial reasons. A cosigner unfortunately does not have as many rights as the person who is first listed on a loan. For example, if you purchase a car and your boyfriend/girlfriend cosigns for you and you two break up, they cannot take the car away from you. However, if you are late on payments, the cosigner will then be responsible for the payments.


Can the cosigner of a motorbike loan take possession of the bike if the primary borrower isn't making payments?

yes


You are the primary owner on a vehicle you owe 700 on the loan and the cosigner decided to take the vehicle even though they havent made any payments can they do that?

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.


If you have a cosigner on a vechicle can they take your vehicle away because he is mad at you?

Yes if his anger is due to your not making payments. Otherwise NO.


What legal recourse is there for the cosigner when the person that was cosigned for has defaulted on the loan?

The usual legal recourse for the cosigner when the person named as the primary on a loan has defaulted, is to make the payments on the loan. Then, the cosigner can take the person who defaulted to court to try and recoup some of the money they are out. If the loan was for a car, some states allow the cosigner to take possession of the car and sell it to recoup losses also.


Can a cosigner take the primary borrower to court to get possession of the car that the primary has not made all the payments?

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.


Does a co-signer have the right to take away the car or ask for you to refinance only in your name because you broke up?

Yes, the cosigner is partly responsible for the car. Therefor they can take equal ownership or ask that you refinance in your own name so they are no longer liable if you default on a payment. Remember, missing payments will hurt both of your credit histories so they have a right to protect their reputation. * A cosigner has no legal right to any property unless his or her name is on the title, nor can a cosigner force someone to refinance a loan without taking the person to court and receiving a court order directing the primary borrower to take such action.


If you have made all the payments on time can the cosigner of your car take it from you because you got in a fight?

If they're are your mom and dad you bet they can!


Can a cosigner come and take your vehicle for personal reason?

The cosigner is not able to come and obtain your vehicle for personal reasons or any other reason. A cosigner is not claiming ownership of your vehicle, they are simply vouching for your credibility and agreeing that if payments aren't made that they will uphold the responsibility.?æ


Can a cosigner take the primary borrower to court to get possession of the car that the primary has made all the payments on and the car is insured and registered to the primary?

No.


Can a lender on an auto loan require a co-borrower or guarantor to go on the title?

The lender can require just about anything, but it is more likely that they will want every name on the title to be on the loan, not the other way around. If anyone should insist the cosigner's name be on the title, it would be the cosigner himself. That will give him a right to take possession of the vehicle if he is stuck with the payments.


Cosigned a car loan for ex-girlfriend and have had to make about 25 percent of the payments and am paying the insurance in the state of Alabama can I take the car from her if I go to court?

You do not even need to take the person to court. You being the cosigner has just as much right to the vehicle as they do. You can go take the vehicle anytime you want to.