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If you have a car loan with a co-signer do you have to get the co-signer's signature to trade the vehicle in or sell it yourself?
Wiki User
∙ 12y ago
Only if they are also on the title of the car.
Call the Bank they will explain you what to do in certain situation. I got a same issue I called a bank and they offered me a back message.
Wiki User
∙ 12y ago
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Does a cosigner have to be on the title of a vehicle?
No, cosigners don't have to be on the title. The loan and the ownership of the vehicle are under two completely different agencies.
What rights does a cosigner have to gain possession of the vehicle if his name is on the title in Pennsylvania?
It depends on what the title says. The title can say "The owner of the vehicle is Name 1 or Name 2." If the title says this then the cosigner has limited rights to get the car. Whoever has the vehicle can sell the car without the cosigners signature. Now if the cosigner has the car, the cosigner can sell the car without the main owners signature. If the title states Name 1 and Name 2, then you have same rights as the main owner of the car. This means if Name 1 trys to sell it, they can't sell it without your signature.
Could I opt out of a cosigner of an vehicle so that i will not get into any trouble with Section 8?
Normally the program does not take into consideration any cosigners of the loan or coownership of the vehicle: if the assets belonging only to you then it will count as an asset.
Does the cosigner have to obtain the primary's signature to trade in the vehicle?
yes, as co-signer you only guarantee the loan in case the primary defaults, they own the car.
Im a primary borrower on a loan n i had2 have a cosigner to get my car. i have made several payments on my carnthe cosigner had told me tht he had the car sold hes now got the not makein payments?
Something is not right here. If you are the primary, then why is the cosigner making payments and why does the cosigner have possession of the vehicle? The is back-wards of what it should be. And why in the world would you put the cosigners name on the title? You have a mess on your hands, because you went about this all wrong. You need to contact a lawyer ASAP.
If a co-signer is not on title to a vehicle and a bank officer picks it up and gives it to the cosigner what are the legal reprocussions are the lender and the cosigner subject to?
NOLO legal books are available at the library, GREAT do-it-yourself legal...
If a car is in your name as the primary but your cosigner has been making payment for the last year and many of those payments have been paid late can you legally take that car from the cosigner?
Since the cosigners isn't paying, unless you start paying instead, and catch up on all late payments, the dealer or the bank will repossess the vehicle shortly anyway, so your question is moot.
As a cosigner can you have a vehicle repossessed without affecting the cosigner credit rating?
Nope.
Can a cosigner coowner repossess a vehicle if the primary has not defaulted payment on the loan?
A cosigner or coowner cannot repossess a vehicle. That is something the leinholder does.
Can you get a loan for a vehicle with a cosigner at 16 years of age?
From what i understand, you have to be 18 to enter into a binding contract...and so its up to the bank whether or not you can get one because they can't enforce it on you...so you will definitely need a cosigner and the bank will look at both your credits to see if it's worth the risk i know this because my friend signed for a loan w/ his parents as cosigners and because i also wanted a personal loan and the bank told me i needed a cosigner with better credit :P
If the cosigner has had possession of vehicle 15 months paying the payments does the primary have the right to the vehicle?
will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle will primary on a auto loan have right to the vehicle if cosigner has been paying loan for 15 months and has possession of vehicle
Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
