Your parents co-signed a car with you you are paying for your car everything that goes into that car Do your parents have any rights to take away the car If so how do you get the car put in your name?

Answer 1

Absolutely they do. The only way you have any right is to buy it yourself with no co signer. I know nobody likes to hear this, but if you need a co signer, THEY have a vested interest in how things go too. They actually stand to lose more than you if you mess up. Oh, and by the way, even if you DO buy the car all on your own other people can STILL take it away for what you may deem no good reason, i.e. Police officers, State officials, Loan officers, Collection agents. Your parents did you a favor by risking their credit to co sign on that vehicle. They can do pretty much anything they want as long as they feel it is in everyones best interest. You should be grateful that they did you that favor and HONOR their wishes by being more appreciative of them. LEGALLY, your parent can only do something if you do not make payments. Their only function in this case is to make the payments if you fail to. Even if this happens, they would have to go to court and show that you were not paying before they took the car. They accepted the risk of being a co-signer and it is a risk. This does not give them the right to take the car because you do something they do not like. They may have other "rights" if you are under 18 and still living with them, but you are the "owner" of the car. The lender, bank, credit union, whatever, only has a claim after you have failed to make the scheduled payments and a judge has said so.