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You cosigned on a car for your son the title is in his name he is not making payments how do you get the title in your name so you can get ownership of the car?
Since your name is not on the title you have no right to possession. Therefore you must be diligent in making the payments on the loan to keep it current or your credit will be ruined. Make sure you have written proof that you are the one making the payments and keep a clear record for every payment you have made. Canceled checks are the best proof. Automatic withdrawals may not satisfy the court that you are the one making the car loan payments. Extremely important: You should make sure there is full insurance coverage on the car in case your son is involved in an accident. He may not be paying the insurance either. If he wrecks the car and there is insufficient or lapsed insurance you will still be responsible for repayment of the loan. You should contact an attorney in your area for advice on filing a court action to have the title transferred to you so that you can take possession. You should act ASAP to protect both your investment, your liability for the amount due on the loan and your credit.
What else can I help you with?
If a person cosigns on a vehicle loan and is listed as the primary buyer on the title and the person they cosigned for has refused to make any payments can the the cosigner regain ownership of the car?
If a person's name is listed on a title, that person owns the car. If a person merely cosigned the note, that person's name will not be on the title. If you own the car, you certainly can take physical possession of it.
Do you have any ownership or can you take possession of the collateral if you cosigned for it?
ONLY if you are listed on the TITLE as co-owner can you take possession.
If you cosigned on a car loan and the car is in an accident am I liable?
That depends on whether your name is on the title also. Not everyone who co-signs has their name on the title. However, you should consider something else. People who need a co-signer generally have a poor credit record. Many do not follow through with responsible car ownership and allow their insurance to lapse. If they wreck the car they stop making payments. In that case the lender will go after you for the balance on the loan.
If the person you cosigned for refuses to pay on the car loan after a year and a half can the cosigner take over payments and get possession of the car?
Only if they are a joint title holder of the vehicle.
If you are making payments to the bank for your car does the bank have your car title?
no,you should have title.
When cosigning for a car and the person who is acquiring the car is the only one making payments whose name is the ownership of the car under?
the person making the payments is actually buying the car. it is illogical that a cosigner could claim any ownership rights, having paid nothing. the person having made the payments is the owner It depends on the title. If it is only your name then it is your's. If it is both names, then it belongs to both of you regardless of who pays.
Can I put a lien on a car title I'm selling if the buyer is making payments to you?
You can if you listed yourself as the lien holder of the car at the time you transferred the title to the person making payments. If you did not do this at the time you transferred them the title, you can not legally do anything.
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
How do I get possession of a car in Michigan that I cosigned for when the owner has stopped making payments and communicating with me?
Contact whomever holds the lien, they will allow you to make payments and take posession of said vehicle if signor has ceased to make payments. I have already contacted the lien holder and they advised me that they would not get involved with me taking possession of the vehicle. All they wanted from me were back payments. I brought the payments up to date. Now I want to get the vehicle in my possession. Unfortunately I have been unsuccessful at contacting the person I cosigned for. I've even heard that he may have moved out of Michigan. I have a copy of the Michigan registration showing myself as an owner. I am currently awaiting documentation from the state that I am on the title. What is my next step towards getting possession of the car?
Can you insure a car that you are paying payments on until its paid for from a private owner who holds the title?
I would insure any car that I was driving or making payments on. If you are on the title then you are an owner.
What rights does a co-signer have to a car?
A co-signer on a car loan is responsible for making payments if the primary borrower fails to do so. However, the co-signer typically does not have ownership rights to the car unless they are listed on the title.
If you pay the car payments but the car is in someone else's name can they take the car?
Legally, the car belongs to whoever's name is on the title and registration. If someone else is making payments for another person's car, they can't outright take it but could have a case in court for ownership, which could result in seizure.
