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The only way to be relieved of the obligation is for the primary borrower to refinance the vehicle.

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โˆ™ 2005-04-24 01:17:43
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Q: Is there any way a cosigner can get his or her name off of a car loan?
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Related questions

If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?

If you are late on your loan payment and are a cosigner on your daughters car can they repposses the car?


If you gat a car with a cosigner and your 17 at the time can you have the car put in your name and get credit for the payments being made when you turn 18?

The terms of the loan are between the bank, and you and your cosigner. To remove the cosigner, the bank would have to agree to pay off the loan and issue a new loan in your name only. Since the value of the car has probably decreased faster than you are paying down the loan, it is unlikely that there is any credit being generated.


Will refinancing a car loan under the primary borrower's name remove the cosigner from the loan obligation?

Yes.


If you refinance a loan to have the cosigner removed and the cosigner has the car how do you go about getting the car from them if the loan and title are now in your name only?

IF YOU LEGALLY REMOVED THE COSIGNER FROM YOUR CAR LOAN,TITLE AND ALL. IT NOW BECOMES A CIVIL MATTER,WITH EVIDENCE ON HAND A LOCAL SHERIIFF'S MIGHT BE HELPFUL SINCE THEY HANDLE CIVIL MATTERS. I DON'T FORSEE ANY PROBLEMS IN ACQUIRING YOUR VEHICLE.


Does the cosigner have to drive the car?

No, the cosigner signs on to the loan. Usually, the primary signer owns the car and drives it. The cosigner is there in case the loan goes into default and needs to be paid for. After they sign on the car does not belong to them, but the person who took out the loan.


What happens to the cosigner if you are in chp 7 bankruptcy and you default on your car loan?

If you default on your loan, the cosigner is stuck with paying it off. If your credit had been any good in the first place, you would not have needed a cosigner.


If the cosigner on a car loan gets the loan refinanced in her name can she then sell the car or does the primary have to sign the title over?

Any title holder must relinquish ownership by signing the title release


What are the consequences if a cosigner on a car loan sells the car without the permission of the other cosigner?

Possible fraud charges.


What happens to a cosigner of a car loan when the primary loan holder files bankruptcy and the loan is discharged and they do a voluntary repossession?

They can still come after the cosigner, and it will still reflect poorly on your cosigner's credit history. You have been absolved of the debt, not your cosigner.


Can your daughter be on your car insurance if you are not cosigner on her car loan?

Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.


Can they take money from my check for a car i don't have?

If you owe money on a car loan or are a cosigner for a car loan, yes.


Where do you get a car loan with no credit and no cosigner?

Some who has character My Friend it is very difficult to get car loan with no credit and no cosigner although you have to contact some good car lenders in your area they can guide you better.

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