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If primary owner and cosigner have both their names on the title and primary doesn't pay the payments can you repossess the vehicle The title says or on it.?
Wiki User
∙ 9y ago
If there are two individuals listed on the title of a vehicle as primary and joint, they are both responsible for the payment of the loan. If the primary defaults on the payment, the joint owner is responsible for payment. If both parties default, the vehicle can be repossessed.
Wiki User
∙ 9y ago
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If your cosigner defaults on other loans but you are making your payments can they repossess your vehicle?
No. You are the primary borrower and are honoring your financial obligation.
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 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.
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 repossess a car if the primary borrower stops making payments?
No. Only the lender can "repossess" a vehicle. You need to keep making the payments to protect your own credit. It is likely you would need to bring a court action, prove you are making the payments and petition the court to order a transfer of title.
Can a bank repossess if the borrower defaults and there is a cosigner on the vehicle?
The cosigner becomes the target next. If you default, it is up to the cosigner to pay the bill or both of your credits are ruined and the bank takes their usual steps to repossess a vehicle.
Does a cosigner have the right to take possession of the car when the primary borrower has made all the payments and has not defaulted on the loan?
No, a cosigner has no legal rights to a vehicle unless his or her name appears on the vehicle title.
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.
Cosigner repo a vehicle?
If you are a co-signer of a repossesion, and the primary borrower has not made an attempt to make their payments then you are fully responsible for this debt.
Can a cosigner take possession of a car if the primary signer is not paying the payments?
Yes. I believe the loaner will contact you with a past due amount, or send you a bill. If this hasn't happened yet, contact the loaner and tell them you want possesion if the car is not being paid for by the buyer. * No. A cosigner has no legal right to a vehicle unless his or her name appears on the title. The cosigner will have to make the payments to keep the vehicle from being reposssesed or have the vehicle refinanced in his or her name with the primary borrower being released from the current agreement, this can only be done if the lender agrees.
Does a co-signer have rights to a vehicle that is being financed and payments are currently being made by the primary holder?
NO. As the cosigner, you are only guaranteeing the loan.
You are the primary owner on a vehicle you owe 700 on the loan and the cosigner decided to take the vehicle even though they havent made any payments can they do that?
Two things to consider here: First, the cosigner is an equal owner of the vehicle regardless of whether or not any payment has been made by him. This is a matter of contract law. Second, and typically in cases where payments are not current, the cosigner/co-owner can take possession of the vehicle to protect his credit if his intention is to surrender the unit or to make payments current.
