0
Make sure that you have proof of full payment for the loan. Then, discuss the issue with them. Perhaps their refusal is for some other reason? If you owe the co-signer money for the car, you will need to pay it back, but be sure that you keep copies of the cancelled checks/money orders you pay with. Another way to solve the issue is you can ask them to put a lien for that amount on the title, but the title will be in your name. When you sell it, a portion of the sales price will be needed to pay off the lien. However, it is their choice as to whether they will do this if you still owe them money.
What else can I help you with?
Does a cosigner have rights to the car even when its paid off?
No, the cosigner will not have rights to the car after its paid off because the purpose of a cosigner is to pay off the notice if you fail to do so. Being a cosigner does not give them to any rights to the car.
What does it mean to be a cosigner for a car?
With your good credit you sign a contract to pay off the loan if the original borrower defaults.
Can a cosigner on a car loan sell the car without approval from the other?
No, both parties would have to be in agreement and sign off to sell or trade the 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.
If you want to get off of a loan as cosigner can you just sign a document saying you are no longer responsible for the car loan and that the other party is?
No. The only way to be removed as a cosigner is for the loan to be refinanced assuming the lender will allow that to happen.
How do you get a cosigner off of a car title if the car is paid off?
You cant without the cosigners approval.
Can i donate my car with a cosigner name on the title?
All of the owners of the car have to sign to transfer it or sell it, and that includes donating it.
How can I find a cosigner for a car loan?
You can find a cosigner for a car loan by asking family members, friends, or someone with a good credit history to sign the loan with you. The cosigner agrees to pay the loan if you cannot, which can help you qualify for a loan with better terms.
How can I remove a cosigner from a car title in California?
To remove a cosigner from a car title in California, you typically need to refinance the car loan in your name only. This process involves applying for a new loan without the cosigner's involvement and using it to pay off the existing loan. Once the new loan is approved and the old loan is paid off, the cosigner can be removed from the title.
After cosigning on an auto loan and that car is traded in are you still the cosigner on the new vehicle?
No. You are only cosigner on the one vehicle you signed for. All bets are off once the car is traded.
What can you do to save your credit as a cosigner for your son durning a car repossession?
You need to have him sign over the car to you and pay the note. Regardless, you have to pay the note.
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.
