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Nope.
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
Only if the cosigner is also named on the vehicle title.
Yes, they can be removed from the title although there isn't much point to the action if the vehicle is subject to BK seizure. However it is not possible to be removed from the loan agreement. The cosigner will likely be obligated to pay the outstanding debt.
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
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
No. A cosigner is just responsible for paying it off if the negligent driver wrecks it and and can't work to make the payments.
The cosigner on an automobile loan is not the person who has to pay for insurance on the vehicle. The registered owner should pay the fees for insurance. However, it is the cosigner's responsibility to make sure the registered owner is carrying insurance for the vehicle.
Yes
Yes, the cosigner is typically liable for the vehicle if the primary borrower defaults and the vehicle is repossessed. The cosigner is equally responsible for the loan and may be pursued for any outstanding debts, fees, or deficiencies resulting from the repossession. It's important for cosigners to understand their obligations before agreeing to cosign a loan.
No. You are only cosigner on the one vehicle you signed for. All bets are off once the car is traded.