Something is not right here. If you are the primary, then why is the cosigner making payments and why does the cosigner have possession of the vehicle? The is back-wards of what it should be. And why in the world would you put the cosigners name on the title? You have a mess on your hands, because you went about this all wrong. You need to contact a lawyer ASAP.
No, but if the borrower misses enough payments, the cosigner will start getting collection calls as well.
If the cosignatory is willing to take over the payments, and the creditor agrees. But if the primary borrower rufuses to cede posession then yes.
Only if the cosigner is also named on the vehicle title.
No. If you are not on the deed, you can't sell the property. The only "right" you have as a cosigner is the obligation to make the payments.
When the primary borrower defaults the cosigner becomes legally responsible for the loan. If the cosigner is not able to pay the loan he or she can also be subject to legal action by the lender and the cosigner's credit score will be seriously affected.
The cosigner issue here is misplaced. The liability of a cosigner comes into play if the primary owner of the car cannot make payments. In the case presented, the primary borrower is doing fine. There is nothing a cosigner can do to take a car away.
No. You are the primary borrower and are honoring your financial obligation.
The primary borrower is responsible for making the payments and adhering to the terms of the lending contract. The cosigner is legally obligated only if the primary borrower defaults on the lending agreement or files bankruptcy (chapter 7).
The only way for a co-signer to be taken off the loan, would be for the primary borrower to refinance the account.
If you are a co-signer of a repossesion, and the primary borrower has not made an attempt to make their payments then you are fully responsible for this debt.