This is unlikely to happen, but it can't hurt to ask. If the primary obligor has paid timely and improved his/her credit, I suppose it is possible, but I don't think I've ever seen it happen. The lender has no incentive to do so now. It's better to keep you on the hook, and the car's already sold/financed.
Another option would be to have the primary obtain another loan (without you) to pay off the loan you co-signed. That way you'll be off the hook without the consent of the existing lender.
Think carefully next time you sign on the dotted line - especially for someone else!
Answered on May 17th, 2012 at 7:46 AM