answersLogoWhite

0

  • Auto Loans and Financing
  • Loans
  • Co-signing
  • Money Management

How can the co-signer be removed from a car loan?


Top Answer
User Avatar
Wiki User
Answered 2010-11-28 22:41:25

You can try to re-finance the car with a different lender without the cosigner if you've established enough good credit.

001
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
๐Ÿ˜‚
0
User Avatar

Your Answer

Loading...

Still have questions?

Related Questions

How can a cosigner be removed from the loan?

The only option is for the loan to be refinanced without the particpation of the present cosigner.


If you refinance a loan to have the cosigner removed and the cosigner has the car how do you go about getting the car from them if the loan and title are now in your name only?

IF YOU LEGALLY REMOVED THE COSIGNER FROM YOUR CAR LOAN,TITLE AND ALL. IT NOW BECOMES A CIVIL MATTER,WITH EVIDENCE ON HAND A LOCAL SHERIIFF'S MIGHT BE HELPFUL SINCE THEY HANDLE CIVIL MATTERS. I DON'T FORSEE ANY PROBLEMS IN ACQUIRING YOUR VEHICLE.


If you want to get off of a loan as cosigner can you just sign a document saying you are no longer responsible for the car loan and that the other party is?

No. The only way to be removed as a cosigner is for the loan to be refinanced assuming the lender will allow that to happen.


If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?

If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?


Does the cosigner have to drive the car?

No, the cosigner signs on to the loan. Usually, the primary signer owns the car and drives it. The cosigner is there in case the loan goes into default and needs to be paid for. After they sign on the car does not belong to them, but the person who took out the loan.


Can a primary be removed from a loan?

That will have to be arranged between the lender and the co-signor. The only way to remove anyone from a loan is to have the person being removed sign verifying that they want to be removed AND whoever will be left on (or added to) the loan must reapply for the loan on their own. This means, if the cosigner does not have good enough credit, then either the primary must stay on the loan or (if the loan is backed by collateral such as a car or house) then the collateral can be sold to a third party. In which case, of course, the primary and cosigner will be removed.


What are the consequences if a cosigner on a car loan sells the car without the permission of the other cosigner?

Possible fraud charges.


Can your daughter be on your car insurance if you are not cosigner on her car loan?

Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.


Can they take money from my check for a car i don't have?

If you owe money on a car loan or are a cosigner for a car loan, yes.


Are there legal options that a cosigner can use to be removed from an auto loan?

No, a cosigner can only be relieved of the financial obligation by a refinancing of the loan agreement without them being a participant.


Where do you get a car loan with no credit and no cosigner?

Some who has character My Friend it is very difficult to get car loan with no credit and no cosigner although you have to contact some good car lenders in your area they can guide you better.


What are cosigner qualifications for a car loan?

You select a cosiger have good credit history is big qualification for car loan.


If you have bad credit will you get approved for a car loan with a cosigner?

Yes.


Can a cosigner have a car repossessed if the loan has been in arrears?

yes


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 be removed from mortgage loan?

No. The loan must be paid off and you must refinance without the co-signer.


What happens to a cosigner of a car loan when the primary loan holder files bankruptcy and the loan is discharged and they do a voluntary repossession?

They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.


What happens to the cosigner if you are in chp 7 bankruptcy and you default on your car loan?

If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.


If cosigner has a car loan already may she cosign for someone and be approved for that person and the cosigner has good credit?

Yes.


What is a sentence using cosigner?

If you need a cosigner for the loan because of bad credit, it means you can't afford the car.


Does a cosigner on car loan have to be licensed?

No, they just need good credit.


Can you get a car loan without a co-signer a small loan only about 4000?

Yes, if your credit is good enough. I have never had to have a cosigner for a car loan.


Will refinancing a car loan under the primary borrower's name remove the cosigner from the loan obligation?

Yes.


If you cosign for a car loan can you be sued successfully?

Yes. If the signer defaults on the loan, then you, as the cosigner, would be liable.


If a car was voluntary repossessed and the cosigner was not notified is the cosigner still responsible?

Yes. If you signed the loan, you are still legally responsible for it.