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Can a co-signer take over a car loan?
Yes, a co-signer can take over a car loan if the primary borrower is unable to make payments. The co-signer would then become responsible for repaying the loan.
Can a primary signer get off the loan when the cosigner wants to take over payments?
Not likely, the lender will probably require you to refinance the loan in only the co-signers name.
Can a co-signer make a primary signer refinance?
No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.No. A co-signer has no such authority over the primary borrower. The co-signer is on the hook until the loan is paid off.
Can a cosigner take over the total loan on a car?
Yes. You need to discuss this with the lender.
Can the cosigner be taken off the loan if the primary borrower has made over a year of payments on time?
The only way for a co-signer to be taken off the loan, would be for the primary borrower to refinance the account.
Can a cosigner take over a car loan?
Yes, a cosigner can take over a car loan if the primary borrower is unable to make payments. The cosigner would become responsible for the loan and would need to make payments to avoid default.
If the cosigner can prove they made all the payments and paid off the loan can they take the car?
No. The co-signer would need to take all that evidence and sue in court to get title to the car transferred unless the owner is willing to sing over the title.
How can I take over car payments from the owner?
To take over car payments from the owner, you will need to contact the lender to see if they allow for a transfer of the loan. If they do, you and the owner will need to agree on the terms of the transfer and complete any necessary paperwork. It's important to make sure you can afford the payments before taking over the loan.
Can a co-signer take over car payments without the need to 'sell' the car?
If his name is already on the title, you can't sell him something he already owns. You should be able to have your name removed from the title if you want, and the bank may be willing to change the loan to your fathers name as primary borrower and remove you from the loan.
If the lender doesn't want the car how would the co-signer take over payments?
The co-signer would make the payments as usual and at the end of the financing, the owner would sign the title over to the co-signer. That is probably not good because the owner would still be financially responsible for the vehicle. The co-signer should refinance it in their name.
What happens when a co-signer on mortgage dies would the estate for the co-signer have to pay off the mortgage?
if your on the title be prepared to take over the payments.
Can a cosigner take over a car loan if the primary borrower is unable to make payments?
Yes, a cosigner can take over a car loan if the primary borrower is unable to make payments. This means the cosigner becomes responsible for making the payments on the loan.
