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What rights do the co buyer have if the primary buyer pays the car off but the co buyer has made all payments before that?
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∙ 16y ago
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Wiki User
∙ 16y ago
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Does a co buyer have rights to the auto loan payments?
The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.The lender has the right to receive all the payments. A co-buyer has no rights TO the payments.The co-buyer is equally responsible for making the payments.
I am the buyer but co buyer has car and hasn't make the payment what are my rights?
i am the buyer made payments but the co buyer has the car and has not made any payments what are may rights Very generally speaking, cobuyers (cosigners) have the same rights to the vehicle as the primary buyer, however, you may or may not have the right to take possession of the vehicle without permission of the buyer. Some states have specific laws about taking possession of a vehicle under those circumstances.
Who is responsible for making monthly payments when there is a primary buyer and a co buyer?
either OR both
If the buyer hasent made any payments over a car and the co buyer has. What are the co buyers rights?
The co-buyer can sue the buyer in court and provide proof of payments and be repaid the amount put in.
How can a co-buyer take possession of a truck when the primary borrower is not making the payments?
When someone co-signs, they are basically just agreeing to making the payments when the signer can not. * Any legal rights that a cosigner or a co-buyer(borrower) have depend upon whether or not their name is on the title to the vehicle.
If you are on the title with the primary buyer can you get the car and not make payments?
Either party ON THE TITLE is entitled to possession, but someone will HAVE to make payments or it will be repoed.
Can the co buyer take over the car if the buyer hasent made any payments?
yes because you have rights to the car also
Is the co-signer and co-buyer the same thing on a bank application?
Co-buyer = Name is on the title and has rights to the property. The lender will PROBABLY insist that this person also sign the loan as a co-signer or joint borrower. Co-signer = Name is on the loan and is obligated to make the payments if the primary borrower does not. This gives you NO rights to the property.
Can a car be repossessed if a primary buyer files bankruptcy and the co-buyer has possession of the car but falls behind on payments and the court rules that the vehicle belongs to the lendor?
yes
What is the co-buyer's responsibility if the primary files bankruptcy?
If an individual is a co-signer on a loan in which the primary buyer defaults, the co-signer is then responsible for the remaining payments of the loan. It is important to know the financial strength of an individual before co-signing for them, as their default could lead to many financial issues for the co-signer.
If the primary buyer refuses to make car payments and drops the car off to the cosigner What is the cosigners responsibility?
To make the car payments. Just be glad you have the car too.
Can a co-signer take the vehicle away from the primary buyer even if they have not missed a payment?
Of course not. The car belongs to the person listed on the title and to the lender who holds lien rights, and not to you. You own nothing here. The only interest you have in this vehicle is that you have guaranteed to pay the loan if the primary owner does not. They are making payments, so what is your problem? You have no rights to the vehicle at all. If you were to take the vehicle without the consent of the owner, you can be charged with theft of a vehicle. As long as the payments are being made on time you have no need to do anything.
