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Submitted 102 days ago...

Rio123

New User (4)

Can I take over/reposses and refinance under my name, a car that I cosigned for? (both names are on the title)

I cosigned a loan for a relative on a car that she primary drove but we shared. I am the primary on both the loan and the title but we both are on there. I put down a large amount of money (about 20%) when the car was purchased but I have not contributed to any of the montly payments. Now that we are no longer speaking on good terms, I don't want my credit to be affected if she defaults. To date that she hasn't made any payment late more than 30 days, however she consistantly pays past the due date and has been for a while. Due to her credit she is unable to refinance the car under her name and she has no one willing to cosign for her again. I am 100% willing to take possesion and refinance it under my name only but she will not give me the car, and because I have asked her for it she has threatened to either total it, get it stolen, or stop making payments. We have full coverage insurance with gap coverage, so monetarily speaking we really wouldn't be out anything if it was wrecked or stolen. I guess she figures that if she can't have it then she's going to make sure that I can't either. She won't give it to me because of the money that she has paid for it over the months, she also said she would trade it in but I don't want to loose my investment into it either and I doubt she would be able to get a car loan on her own anyways. As far as refinancing we owe just under what is worth so I wouldn't be upside down and I have already been appoved for the loan.

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Submitted 101 days ago...

pnaypleazer

Authority (345)

Just blow it up..or dont even worry about it...its only a car...go look for other problems

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