0
Add your answer:
Earn +20 pts
If the primary buyer refuses to make car payments and drops the car off to the cosigner What is the cosigners responsibility?
To make the car payments. Just be glad you have the car too.
If you have a car that is worth less than you owe can you sell it to a dealership and make payments on the rest?
Turn it in?? YES sale it to a dealership? YES, IF they pay it off. make payments on the rest?? Maybe, the way to do it is to find a buyer(highest price you can get), subtract what you can get for it from the PAYOFF on the loan, BORROW the difference needed from another source. Then you can payoff the loan, get title to give to buyer, and make payments on a smaller amount that you can handle. This will have to be done with the LENDERs help. Contact the lender and make all the arrangements ASAP after you find a willing and READY (CASH wise)buyer. You will have to convince the lender that you HAVE a buyer and convince the buyer that they will get title,ect to make it work. Good Luck
What if the Co-signer on a vehicle was put as primary buyer and buyer as cobuyer buyer passed away who's name will be on title?
If two people are listed as owners on the Certificate of Title the survivor of them will be the sole owner of the car. As I understand your question: Jack wanted to buy a car but didn't have good enough credit. Harry had good credit and agreed to co-sign as the primary buyer although Jack would make the payments. The car and loan were titled in both names. If Jack died then Harry would be the sole owner of the car. He would need to continue making the payments or the lender could repossess the car.
In a private transaction in California can I without a repo service repo a used car from the buyer who didn't make payments?
Only if you put a lien on the title
What does owner will carry mean when buying a car?
I think it may mean that the seller of the vehicle will "hold the loan" or will let the buyer make payments to them and once paid in full, seller will then sign title over to buyer.
If a person cosigns on a vehicle loan and is listed as the primary buyer on the title and the person they cosigned for has refused to make any payments can the the cosigner regain ownership of the car?
If a person's name is listed on a title, that person owns the car. If a person merely cosigned the note, that person's name will not be on the title. If you own the car, you certainly can take physical possession of it.
I am the buyer but co buyer has car and hasn't make the payment what are my rights?
i am the buyer made payments but the co buyer has the car and has not made any payments what are may rights Very generally speaking, cobuyers (cosigners) have the same rights to the vehicle as the primary buyer, however, you may or may not have the right to take possession of the vehicle without permission of the buyer. Some states have specific laws about taking possession of a vehicle under those circumstances.
Is the co-signer and co-buyer the same thing on a bank application?
Co-buyer = Name is on the title and has rights to the property. The lender will PROBABLY insist that this person also sign the loan as a co-signer or joint borrower. Co-signer = Name is on the loan and is obligated to make the payments if the primary borrower does not. This gives you NO rights to the property.
You sold property to a person and he cant make the payments what do you need to do to get property back clear as previous buyer will sign whatever papers needed?
Simply have him sign off on the title.
If you have to have a co-buyer for a loan and you make all the payments will this help your credit or the co-buyer's?
YOURS 99.7%. Theirs 00.03%
Can a private party sell a used car to someone who promises to make payments over time and keep the title until those payments are made?
That would be an agreement between buyer and seller. I cannot advise you against this enough.Buyers may be hard to come by, but wait around until you get a cash buyer who'll come and buy it outright.
Can you sell a car or cycle when you still make payments on it and you don't have the title?
Yes. Im not 100% sure how the process goes,but the sellerwill have to notify his/her lender or whomever of whats going on. Buyer will provide payment and i believe your lender will forward the title to the buyers lender.
