if i co-sign and they they start to miss payments and then i start paying for them can a repo it after the second missed or late payment
2007-01-13 16:29:29 · 4 answers · asked by veronica l 1 in Cars & Transportation ➔ Buying & Selling
No, not unless you have title. You are not a bank or loans company, you have signed to be responsible for the payments if the other person defaults. If neither of you pays, the car is repossessed by the lender and you both are sued. You can tell the person you want the car if you have to make the payments, but you cannot just take it.
2007-01-13 17:11:24 · answer #1 · answered by Fred C 7 · 0⤊ 0⤋
it'll wreck both person's credit. who did you co-sign for? talk to the bank. the co-payer's responsibility is to pay if the first person fails to. either way, honey, you are screwed. sorry. you can take them to court, but it won't repair your credit.
2007-01-14 00:38:56 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Not without going the legal process.
2007-01-14 00:35:42 · answer #3 · answered by badbill1941 6 · 0⤊ 0⤋
if you are on the title, and have a key, guess what... they are driving your car! go take it, but not if you are not on the title. if you are paying for it, and they are driving it, does that make any sense to you at all?
2007-01-17 17:45:24 · answer #4 · answered by michael_oxgood 4 · 0⤊ 0⤋