My co signer is not paying his car bill can I return the car?
if think you can return the car you can
if you want to do for him you can do
No. The co-signer will be responsible for paying the loan until it is paid off. No. The co-signer will be responsible for paying the loan until it is paid off. No. The co-signer will be responsible for paying the loan until it is paid off. No. The co-signer will be responsible for paying the loan until it is paid off.
Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not. Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not. Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not. Yes, since the co-signer is fully responsible for paying the loan if the primary borrower does not.
I have a car in which the bill come in my name but also have a co-signer whose name is not on the bill who legally owns the car me or husbands aunt?
The co-signer is typically a person who signs for the car loan; the co-signer may or may not be listed as a co-owner on the title. If the co-signer is also a co-owner, the co-owner who is paying the loan can legally take the car. However, if the co-signer is not a co-owner, taking the car would be grand theft auto. Incidentally, if the co-signer is not also a co-owner and the loan falls into…
If the co signers credit is going to be affected because of the lack of payments from the payee, and if the co signer is paying for the payments, then yes the car can be given over to the co signer, especially if the payee is not paying for the car that was agreed upon. check with the finance companies, and your local state, county laws.
The automobile's title/registration determines the legal owner of the vehicle. Loan documents only concern the signer's legal responsibilities with the bank. If both names are on the title and you as primary are not paying on the loan then it is the responsibility of the co-signer to pay the loan. Since the the co-signer is still co-owner, and they are paying then the co-signer can take the car away. Remember this is affecting the co-signer's…
What happens when you are a co-owner of a vehicle that was used as collateral for a loan by one of the parties and also had a co-signer?
""co-owner of a vehicle"" means you are listed on the TITLE and just that. ""collateral for a loan by one of the parties and also had a co-signer"" IF you are not on the loan, then you are not responsible for paying it. The signor and co-signor will have to pay the loan. However, IF you want/need the car, you may wind up paying the loan just to get the car. Otherwise, you lost your…
No, but consider the following. If the vehicle is uninsured and gets wrecked in an accident, the co-signer will still be responsible for paying the balance of the loan- a loan for a wrecked car. This is a serious risk when a car buyer needs a co-signer for the loan. The need of a co-signer signals that the primary borrower has not established a responsible credit record, or may not earn enough to afford the…
Your co-signer may or may not be able to take your car. It depends on how the title reads. It does not depend on who made the loan payments. However, if you had a verbal agreement, that is a legal contract in this state enforceable by a court of law. You may wish to inform your co-signer of that fact. That is especially true if you kept a paper trail of your car payments.
If a co-signer pays off a loan that the primary party is behind on is there recourse to recover the money?
When a car in Texas gets repossessed for failure of payment does the car company come after the main signer or the cosigner for paying off the rest of the loan?
Both. But in reality, they go after the money. If the primary is broke, doesn't have a job, homeless, whatever, the bank will go after the person with the money. Now aren't you glad that you co-signed? They'll first try to get the primary signer to pay the debt. If he can't, the company will hold the co-signer liable for it. A co-signer is just as legally liable for the debt as the primary signer…
In California State what are the legal rights of ownership for a vehicle between a primary buyer and a co buyer when the primary buyer becomes delinquent on a payment?
Unknown what is meant by the term "co-buyer." Are you referring to a "co-signer" of the loan? In such a transaction the only entity that actually OWNS the car is the lender. The borrower is allowed to POSSESS the car only so long as the financial obligation to the lender is met and current. If the buyer stops paying, the lender will turn to the co-signer for the money, but just because the principal buyer…
What should you do if a co-signer on a car loan totaled car with no insurance now you are paying the loan?
You should sue the co-signer. Even though you may be the primary person obligated to pay the loan, he is responsible to you for totalling your car. You still have to pay the loan company because you took out the loan; but the co-signer caused the loss. You won't be able to force the loan company to take payments from him though. Getting him to reimburse you will be your problem.