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If your cosigner defaults on other loans but you are making your payments can they repossess your vehicle?
Wiki User
∙ 8y ago
No. You are the primary borrower and are honoring your financial obligation.
Wiki User
∙ 8y ago
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Can a bank repossess if the borrower defaults and there is a cosigner on the vehicle?
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.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Do you have a right to take a car away if you are the cosigner?
Well if the original person that you co-signed with defaults on the payments and you are stuck with the payments, technically it is your vehicle and you can take the person to court and take control of the vehicle.
If primary owner and cosigner have both their names on the title and primary doesn't pay the payments can you repossess the vehicle The title says or on it.?
If there are two individuals listed on the title of a vehicle as primary and joint, they are both responsible for the payment of the loan. If the primary defaults on the payment, the joint owner is responsible for payment. If both parties default, the vehicle can be repossessed.
Does a cosigner have any rights to the vehicle if the payments are current and the title does not list the cosigner's name?
NO, the ONLY rights a co-signor has is to pay off the loan if the debtor defaults. Unless, they are listed on the title. Two different ballgames.
Can a cosigner repossess a car if the primary borrower stops making payments?
No. Only the lender can "repossess" a vehicle. You need to keep making the payments to protect your own credit. It is likely you would need to bring a court action, prove you are making the payments and petition the court to order a transfer of title.
What do you need to repossess a vehicle in Nevada?
You have to posses the title on the vehicle and the documentation that there is a default in payments.
Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
Is a cosigner's spouse responsible for the loan if he dies?
No you are not responsible but if your step daughter does not pay the loan they can still repossess the vehicle.
Is the cosigner of a vehicle responsible for the negligent operation of the vehicle?
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.
If a car is in your name as the primary but your cosigner has been making payment for the last year and many of those payments have been paid late can you legally take that car from the cosigner?
Since the cosigners isn't paying, unless you start paying instead, and catch up on all late payments, the dealer or the bank will repossess the vehicle shortly anyway, so your question is moot.
