Can a co owner on auto loan take the auto?

Updated: 9/11/2023
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16y ago

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If you are a co owner, name on the front of the title as John Doe or Mary Roe, then yes. One does not own it more than the other. If it say and instead of or, you can still take it, but you need the other persons signature to do anything with it. If you are a co signer instead of a co owner than you can't just take the car.

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Q: Can a co owner on auto loan take the auto?
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Can a co-signer repossess a vehicle if a sibling is not making payments?

The co-signer is typically a person who signs for the car loan; the co-signer may or may not be listed as a co-owner on the title. If the co-signer is also a co-owner, the co-owner who is paying the loan can legally take the car. However, if the co-signer is not a co-owner, taking the car would be grand theft auto. Incidentally, if the co-signer is not also a co-owner and the loan falls into default, both the signer and the co-signer will be identified in credit reports as defaulting on a car loan, even though the co-signer did not have or use the car.

Can a judgment for auto deficency loan be assessed on my joint saving accounts or my home if the car was repoed from the owner with me as her co-signer.?


Can someone you live with cosign an auto loan?

Yes. It depends on their credit history and willingness to co-sign and take responsibility for your loan.

Can primary owner refinance a car loan without consent from co owner?

A primary owner cannot refinance a car loan without consent from the co-owner. Both parties must agree to the action.

How would the co-owner of a new car take possession of the vehicle for failure of the other co-owner currently in possession to maintain insurance?

To take possession, you MUST be named on the TITLE as co-owner. the LINHOLDER will wanting to be sure the car has the required ins. coverage. IF you are on the LOAN as co-buyer, you will have to make the loan CURRENT if in default. It would work out better if you contacted the LEINHOLDER for state specific advise on the matter. If you are NOT on the loan, it could be repoed for 3rd party possession in your possession.

Can a co-signer take the car away from the primary driver?

The automobile's title/registration determines the legal owner of the vehicle. Loan documents only concern the signer's legal responsibilities with the bank. If both names are on the title and you as primary are not paying on the loan then it is the responsibility of the co-signer to pay the loan. Since the the co-signer is still co-owner, and they are paying then the co-signer can take the car away. Remember this is affecting the co-signer's credit as well as your credit.

If you co sign for an auto loan and the person you co signed for is in an accident can you as the co signer be liable for injuries or damages?

No, you can only be liable for the loan. If the car was totaled and did not have insurance then you can be held responsible for the balance on the loan. Any accident or damages that occurred would be the responsibility of the driver/owner of the vehicle. All your signature did was say that you will pay the loan if the borrower fails to do so.

Can a primary buyer have a co buyer removed from an auto loan if the co buyer was never needed to get the loan?

That will be up to the LENDER.

Does the cosigner on an auto loan have to be on the insurance policy?

By co-signing the loan, they are guaranteeing that you will repay the loan. They do not need to be on the auto insurance policy, but it would be in their best interest.

How does a 16 year old get an auto loan?

you need to be 18 to get a auto loan,and then you would most likely need a co. signer.

Are you liable for a car loan if the owner files bankruptcy and the car was charged off?

That depends on what you're asking. Who filed bankruptcy? The owner of the car or the owner (holder) of the car loan? Did you co-sign on the loan? If you co-signed on the loan and the other signer files for bankruptcy, yes you are liable for the loan. If the owner (holder) of the car loan files for bankruptcy, you are still liable to the owner's creditors (and you need to find out who they are so you can get the lien released).

Can a co signer take over ownership of car loan and get insurance?

A co signer is for the loan, they do not have any ownership in the car unless they are on the front of the title. If they just co signed for the loan, that lmeans they will pay for it if the owner does not. Even if they paid the entire loan, they still would not own the car. To transfer the car, they would have to either pay the loan off or get a loan in their name and you sell the car to them.