QUESTION
Can I legally refinace a car loan that I co signed on even though my name is not on the the regester?
Asked on Apr 09th, 2021 on Civil Litigation - Florida
More details to this question:
I had cosigned for a car for a co worker that needed help. I had cosigned on a car loan as I have a strong credit score. Now three months later, things have soured and am looking to get car from him.
1 ANSWER
Consumer Debt Collector Harassment & Abuse Attorney serving Tampa, FL
Partner at
Tischhauser Law Group
2 Awards
Nope - not how that works. As a co-signor you essentially vouch for the other person with your wallet. If they default - YOU pay. That does nothing to entitle you to own or take the vehicle from the prinicpal debtor. What you did was ridiculously foolish and now you see why. At best you can try to have the buyer sell you the car and transfer title to you and then try to refinance.
Answered on Apr 14th, 2021 at 7:24 AM
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