How can you have someone removed from a car loan?
A lender will not let one person just "drop off" a loan. They like the fact that they have 2 people who are equally responsible for paying, in case something goes wrong.
Usually the only way to do this is to refinance the vehicle. This can be done either with the same lender or another lender.
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Can someone remove themselves from a car loan if you signed with another person as the car is being financed?
If you moved to another country but still have a car loan can you refinance that loan in someone else's name?
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…
No. In my experience and from what I've read, it is not wise to lease a car from someone with a loan. They can still be held responsible for the car if anything happens to it. If you cannot afford to make the payments and the bank comes to collect the car, and the owner does not have it, they can be arrested.
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 the title to a car is in your name but the name for the car loan is in someone elses name who has legal ownership?
If only your name is on the title and the loan is not listed as a lien on that title then you are the legal owner. If someone else obtained a car loan for you then their name should be on the title to the car with yours. The question of ownership should be addressed if someone was kind enough to borrow money for you to have a car. The car should have full insurance…
A straw purchase is when someone else signs for a car loan but the loan is being paid by someone else. For instance person "a" has bad credit and person "b"does not. Person "a"signs for a loan under the idea the car is for them, but it is actually for person "b." Person "b" then gives the car to person a to drive as their own. Person b is responcable for payments, but hopes person…
Can you be liable if someone was driving your car and he hit a pedestrian walking out of a crosswalk?
You cannot get your name removed from a valid loan. If you signed the contract your name remains in place until the loan is paid off. The only time I have seen the name on a valid loan adjusted was when a signer passed away and another party legally assumed the loan from the finance company. And no, divorce decrees will not help you.
Loan can be a Noun or a Verb. A loan is an object or amount of money given to someone in trust that it will be returned to them. In this definition, loan is a noun. If I were to use loan as an action (a verb), I would be "loaning someone my car for the afternoon". An adjective is a word that describes a noun. "Loan" cannot describe anything.
How can you have a lien removed from a car that was given to someone as part of a separation agreement?
Greg, the lien was put on the car as part of an agreement between you and the LENDER. You cannot change that agreement without the permission of the LENDER. That agreement was dependant on YOUR credit rating and can only be tranfered to someone with equal credit and the lenders acceptance. Call the lender and see if they will let someone assume the loan and remove you from it.
You bought a car from someone but never registered it and you want to sell it to someone else. Can they still get it registered?
Is there any way to get your name off of a loan if you cosigned for a car loan while you were married and then you got divorced?
Who is responsible for a deceased mother's car loan if the loan company is holding the title as collateral?
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?
If the buyer is not making payments on time all the time and does not have a job and also does not have a driver's license how the cosigner get him removed from the car loan?
How can a spouse get their name removed from a car loan when the other spouse was not there to sign for it and had better credit and there was not a power of attorney used?
I'm not quite sure EXACTLY what you are asking, but I'll give it a shot. If BOTH names are on the loan and you want to get one off, the other person has to re-finance the car in just their name. If it's in just your name, then you have to get the other person to assume the loan by applying for a loan in their own name. Basically, you can't just remove a name…
a straw buyer is someone who uses someone else's credit to secure a car loan (and car) to drive for themselves, knowing that the person whose credit is being used has no intention of driving the car and ultimately may not be responsible for the payments. It is often illegal for a straw buyer to be the only insured driver of the car.
One of my friends is subjected to deportation for a feloney offense and he is loaning a car for the worth of the car and he may not be able to pay the loan if deported but what happens to car loan?
Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the…