You can report it stolen but they wont do anything once they find out a co owner has the car. They cant steal a car they own.
The risk you run in this situation is that the owner will report the car stolen. The owner would be within their rights to assume the car was stolen and proceed as such.
Assuming the stolen car was insured, the stolen cars insurance would be responsible. If the stolen car was not insured, the driver, if located would be responsible. If not located then the owner would probably be held responsible. Hopefully the struck vehicle is insured for "uninsured motorist" coverage. Filing the report after the accident would document the theft, but not neccesarily clear the owner of responsibility.
Whoever's name is on the registration is the legal owner. If the person is co-signer on a loan, your spouse, guarantor on the loan, or named on the registration or insurance policy, then you might be charged yourself with filing a false report. You may be able to report the incident as "unauthorized use of a motor vehicle" instead of theft.
rport it stolen?? Who will take the report?? Barney Fife??? NO, cause its NOT stolen. The 'stolen" line is a sure sign of a LAZY repoman. Or an uneducated repoman who believes everything they hear. How can you "steal" your own car? The lender CANNOT report the vehicle stolen. You, as the registered owner, are the only one who can make that report to the police.
No. A co-owner is one of the owners. If he's an owner it is obviously not theft. If you file a theft report against an owner you could be jailed for filing a false police report. Also, if the driver is stopped the car will be impounded resulting in costly fees and fines.
The police will not take a stolen vehicle report if the automobile's owner handed the keys to the individual. It is a civil matter in this instance.
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.
ya its your car, your name is on the title and someone has taken it from you....i think i defined a stolen vehicle right there
only the registered owner of the vehicle can report it stolen. If the kid took off with the parent's car, it is still not stolen...it's considered "taken without permission" because it is known who has the car. this can also be reported to the pd.
You should report the theft immediately to the police and to the car owner's insurance company.
You are committing a crime if you knew the car not to be stolen.
Generally, yes, assuming that the "car owner" is the person who took out the loan that was co-signed AND that the owner defaulted on the loan and the co-signer was forced to pay the balance of the loan. Typically, the main borrower, i. e. the car owner, is primarily liable for the loan while a co-signer is only secondarily liable. This means that the co-signer has no obligation to make payments unless the primary borrower defaults. In most contracts involving co-signers, the contract will have a provision that if the co-signer has to pay on behalf of the primary borrower, then the primary borrower must indemnify the co-signer. If the primary borrower refuses to pay the co-signer, the co-signer can sue the car owner to recover what he paid for the car owner.