we have a major falling out the 2nd week that she had the car. I called the car dealer and explained that i has an assault case against her now and we cannot have any contact and can we remove my name from the contract. he told me would would callme right back did not and would not except my calls until the next day and told me it was too late. is that true? and can i use a volunteer surrender letter to have my name removed from the car...........
2007-01-13 15:53:09 · 10 answers · asked by veronica l 1 in Cars & Transportation ➔ Buying & Selling
yeah bro your stuck its out of the dealers hands. once she left the lot with the car you were an owner. i wouldnt use a volunteer surrender because that shows exactly the same as a reposesion on your credit report. the best thing you can do is try and have her refinace the car with out you but if she needed a cosigner to begin with she prolly wont get aproved. so just hope that she pays for it and it doesnt mess up your credit.
2007-01-13 16:14:49 · answer #1 · answered by G-diddy 3 · 0⤊ 0⤋
Yes it is too late...It is between you and the bank now, not the dealer. Most dealers are paid by ach so it only takes a day for them to cash the contract. Call the lender, and your attorney.
You both have the same responsabilty for that loan. If she does not pay it will hurt you credit
2007-01-13 23:58:34 · answer #2 · answered by keith f 1 · 0⤊ 0⤋
Co-signing on a loan means you promise to pay the loan if the borrower does not (not necessarily can not, just does not). Of course you can't call "un-co-sign" after the loan is made. If you could do that then everybody who ever co-signed would do that and co-signing would not mean anything.
As soon as the borrower misses on payment the lender can comae after you for payment. The lender does not need to try everything possible to get the money from the lender before goinmg after the co-signer.
2007-01-14 00:02:10 · answer #3 · answered by frugernity 6 · 1⤊ 0⤋
The lender would have to agree to that -- the dealer has nothing to do with it. They're not likely to do that until at least half the payments have been made on time. There's no way for you to opt out or force the issue.
2007-01-14 00:03:56 · answer #4 · answered by Bostonian In MO 7 · 1⤊ 0⤋
When you co-signed the car for your sister, you agreed to pay back the loan for the car if your sister should fail to do so herself whatever the reason may be.
It's between you and the bank + Car Dealership to figure this out.
you may still have to pay back the car payments.
2007-01-14 00:03:12 · answer #5 · answered by Andy L 2 · 0⤊ 0⤋
did you take title to car?..thats your only hope ...one other thing...buy the car from her,make her a real good deal...she might go for it...then resale it...lose a little to save a lot...
2007-01-13 23:58:25 · answer #6 · answered by studalicious 1 · 0⤊ 0⤋
You are stuck. It is a contract. They don't care about what's going on beteen you and your sister.
2007-01-13 23:58:28 · answer #7 · answered by bubba 3 · 2⤊ 0⤋
dito (the first guy)
2007-01-13 23:57:32 · answer #8 · answered by Whit 3 · 0⤊ 0⤋
if all fails.. get a lawyer
2007-01-13 23:57:08 · answer #9 · answered by VIC-RIDA 2 · 0⤊ 1⤋
you are screwed
2007-01-13 23:56:04 · answer #10 · answered by thomas r 4 · 1⤊ 0⤋