I cosigned for a car & now I would like to take my name off the title, how can I do that?

Answer 1

I don't know what state you live in, but in most cases, you would have to have the vehicle re-financed in the other person's name to get your name off the title.

Until you do get your name off of the title you need to make sure you are insured on the insurance policy for this vehicle, because you still have a liability even if you are not the driver in an accident.

Answer 2

Since you are asking for your name to be off the title, then the loan must be paid off. Since if the loan is not paid then the bank's name is on the title not you or the other person on the loan. Go to this page and choose the state the car is titled in and it will tell you how to transfer the title from both of your names to just the other owners one name.

http://www.dmv.org/title-transfers.php

Answer 3

You can do it by going to the DMV and requesting it. But it's not a good idea as yet. If you are the cosigner, you will be responsible if the person quits making payments. If your name is on the title, you own and can take possession of the vehicle, perhaps to drive it yourself or sell it to get out of the obligation of the debt. If your name isn't on it, you will still have to pay, but now you can't touch the car. Your choice.

The other question is, are you listed as name AND name, or name OR name. If and, it will take both your signatures to do anything, if or either of you can do things.

Answer 4

If the vehicle is paid for just re-register it under whoever's name you want on the title. If it is not paid for the finance company is not going to let you change it at least on the loan contract and if you do change it on the title you will end up not only paying for the vehicle (if the other person defaults) but you will not have any chance to be the owner. Never co-sign for anyone unless you wish to pay the debt and be the owner.
One other note .. if the vehicle is not paid for the finance company name appears on the Title as 1st lein holder. They are the owner until it is paid for.

Answer 5

You can easily take your name off the title, just go to the DMV and request your name be removed if title is free and clear. If the title is not free and clear you can also request the loan company to remove your name from the title. They might be willing to remove your name from the title, BUT YOU WILL STILL BE RESPONSIBLE FOR THE LOAN YOU COSIGNED. So if you take your name off the title, and the people who you cosigned the loan for default on the loan they will come after you for the balance.

Most loan companies won't allow this because they have now lost leverage on what the loan, but it is possible to get your name removed from the title.

The only way you can get your name removed from the loan itself is to have the people you co-signed for to apply for another loan to pay off the first one. Then title can be transfered solely to them as well and relieve you of all remaining financial obligations.

Answer 6

heavily examine the applying that your state makes use of wherein to sign up and "very own" a motor vehicle. In my state, it is conceivable for the Registrant to be distinctive than the owner, with yet yet another area for any Lien-holder. Assuming your financial employer sends you a "lien launch" and you may get your father's signature on the instant call, you are able to only have a guy buddy forge the Ex's signature - do only no longer tell him - if he calls approximately it, say that it is not a concern precise now through fact of ______(make up something). it would bypass via without a issue, considering how would the DMV teller be attentive to that he did no longer certainly sign it?

Answer 7

If the car is paid for, no problem. But if your friend/former friend/ex/kid/whatever is still paying, it's probably not possible to get your name off the loan.

But your state's DMV may not be involved at all in who pays it. The title itself may be transferable. Check with your DMV!

Answer 8

Either you pay it off, the other person pays it off, the other person refinances it or you sell it.
Don't ever be this dumb again.

Answer 9

Hate to inform you my friend YOUR are stuck FOR THE LOAN. mAKE SURE YOU CHECK THAT THE PERSON PAYS ON TIME OR IT WILL RUIN YOUR CREDIT!!!!

Answer 10

YOU CAN'T!!! A CO SIGNER SAYS IF'N THEY DON'T PAY, I WILL... NOW AFTER THE DEAL IS MADE YOU DON'T WANT TO BE RESPONSIBLE???IF YOU HELPED RUN A SCAM THEN YOU SHOULD GO TO JAIL!!! YOU CAN TAKE POSSESION OF THE CAR AND SELL IT TO PAY OFF THE NOTE.