If you are the cobuyer of a car and also the cosigner and you have made all the payments and are ahead can the other buyer take the car?
Daughter and husband are getting divorce and she is the co-buyer can she take it out of state
Upon signing a contract where it says Primary Buyer and Co-Buyer where is a Co-Signer supposed to sign?
If the lender had me sign as the buyer and my nephew as the co-buyer when it was supposed to be the other way around is there any recourse?
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments. The co-buyer is equally responsible for making the payments. The lender has the right to receive all the payments. A co-buyer has no rights TO the payments. The co-buyer is equally responsible for making the payments. The lender has the right to receive all the payments. A co-buyer has no rights TO the payments. The co-buyer is…
Well, it depends how the title was written. if it says buyer "or" cobuyer you dont need the other persons signature for anything .... if its written with "and" between your two names, u will have to have both people present to complete any removals or transfers. That or you can have the cobuyer sell u the car. They will still need to be present though.
Can an original buyer repossess a car after a verbal agreement which is in the first month of default for nonpayment?
Don't know of any state that allows a co-buyer. There might be. For this purpose, let's use co-signer. What legal action does the co-signer have if the buyer doesn't make the car payments? In reality, the co-signer signed as a guarantee that the payment would be made and on time on the specified date. The buyer is the one buying. That's 2 different operations. The co-signer, at last known fact, cannot take the car because…
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…
If you are the buyer but the cosigner has the car and is 3 months behind on the payments can you just go pick up the car?
Does the cosigner on a mortgage need to be on the purchase and sale so the seller is aware of a cosigner?
If the buyer hasent made any payments over a car and the co buyer has. What are the co buyers rights?
What if the co-buyer says they are not going to make any more payments and the vehicle breaks down and need repair?
If the cobuyer is in possession of the vehicle in this scenario, then eventually the lender will put it out for repossession. Once located, the repo agent will secure the vehicle or will have it assessed for the lender to determine if they want it or not, if it is worth repossessing. Either way, if you are the primary on the account, it will negatively affect your credit. It might be better for you to…
Is the cosigner of an auto loan responsible for the loan if the loan was refinanced by the buyer without the knowledge or consent of the cosigner?
How can you find out if you are a co-buyer or a cosigner on a car loan and would your name be on the title and registration if you are a cosigner?
Easy, you can check your own credit report OR go to a registries office and do a quick search. A simpler method is to ask the person that is the primary borrower/buyer or call the lender. Either a cosigner or co-buyer can be listed on the title depending upon the agreement made by the persons involved. The title to a vehicle determines ownership, a cosigner generally has no vested interest in the property only the…
The title holder has no job license or insurance as cosigner you are making payments what can you do to get possession of the car?
IF you are NOT on the TITLE, contact the lender, explain the deal and ask them to repo for you, take the buyer OFF the loan and let you take possession. That will NOT get the payments off you but will give you room to work. You are not the first person to have the problem and most lenders will ways to solve it.
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 primary buyer get the cosigner off the loan you wanted to cosign for your daughter but she didn't have enough credit so to build her credit you put her on as a cosigner how can you get her o?
If you are a cosigner on a vehicle loan and your name is listed on the title as OR then what rights do you have when the primary buyer defaults on payments?
You have the right to pay the loan. When a cosigner enters into a loan agreement he is promising to assume responsibility for the debt should the borrower ever default on the loan. This means simply that if the borrower stops making payments the cosigner will have to take over the payments. You may even be responsible for the full payment of the loan in the event that the borrower dies or is disabled. The…
If a co-buyer is on the contract and is making the payments does the co-buyer receive the credit points or does the buyer?
Does a cosigner have any legal rights to sell your house if there has never been a missed payment or late payment?
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.
Cosigning for ANYONE is one big mistake. If the person you cosign for is not making the payments then the person that cosigned is responsible for all payments. I have no idea why anyone would want to do this. Unless there were stipulations in the contract you signed with the buyer, then no, they can't just up and sell the car. Take another look at your contract. Marcy
Can the co buyer of a car legally repossess the car from the buyer if the co buyer has made all payments?
Can the buyer of a car legally repossess the car from the co buyer if the co buyer has made all payments?
No. A co-buyer owns part of the property, how much a portion depends on how the title is worded. A cosigner is pledging equal responsibiliy for the debt if the primary borrower defaults on the loan. Even if the primary borrower declares bankruptcy the cosigner might still be responsible for a portion or all of the debt.
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 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 are the primary owner listed on your car loan and your husband was supposed to be a co - signer but they made him a co buyer and now he took your car what are your rights Can he do this legally?
I had a problem like this in Florida. the person-cobuyer took off with the car and didnt make the payments. There was not a thing I could do. The only thing you can do is try to get your hands on the car but you cannot cause a disturbance where the police are called. If you do get the car then he can do the same thing if he has a key. Maybe you can…
Yes. I believe the loaner will contact you with a past due amount, or send you a bill. If this hasn't happened yet, contact the loaner and tell them you want possesion if the car is not being paid for by the buyer. * No. A cosigner has no legal right to a vehicle unless his or her name appears on the title. The cosigner will have to make the payments to keep the vehicle…