QUESTION
I am a coborrower on a car loan. Person I helped get car has not made a single payment on car since she got it in April. Do I have rights to car?
Asked on Sep 14th, 2022 on Property Law - Pennsylvania
More details to this question:
I’ve been making payments on this vehicle and since bought in April the motor blew up which is warranted and the car is at Blaise Alexander and they will not cooperate to give me car when finished. Meanwhile the company that sold us the car told me they would buy it back and that’s what I would like to do to pay off the loan since this person has no intentions of making car payments and it would get repossessed and ruin my good credit.
1 ANSWER
Bankruptcy Attorney serving Collegeville, PA
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Nahrgang & Associates, P.C.
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Your question doesn’t reflect that your name is on the title. In that event, you have no rights to the vehicle, despite your being on the loan. Even if it was in your name, too, the other owner would still need to agree to sell it.
What you are experiencing is a common problem among co debtors. The nature of debt is that the debtor may fall behind. The only way to protect your credit it to continue making the payments.
I trust this answers your questions but do not hesitate to call or email me on a free initial basis.
Matthew R. Nahrgang, Esquire
35 Evansburg Road, Ste 400
Collegeville, PA 19426
610 489-3041 o
610 489-3042 fax
mnahrgang@verizon.net
nahrganglaw.com
Answered on Sep 20th, 2022 at 6:17 AM