can i change cosigners on my vehicle?

Answer 1

You would have to complete a whole new loan application in order to do so. You cannot just drop a cosigner and pick a new one up without going through the process again. You can talk to your loan officer to see what they would advise you to do as well.

Answer 2

I suppose you could, but why would you want to? To do so you would have to have a new cosigner with credit good enough to satisfy the lender, and you would have a mountain of paperwork to wade through, and possible fees to pay.

As long as you are making the payments, it won't affect the cosigners life in any way. They would only be annoyed if you default on the loan.

So, why not leave well enough alone?

Answer 3

Yes you can, but the new cosigner needs to qualify for the loan just like the first one did.

If the new co-signer has better credit, you will benefit. If their credit rating is less than the first cosigner then you will not benefit from this as the interest rate on the loan may head north instead of south.

Decide carefully.

Answer 4

Yes, however, the potential New Co-signer must be scrutinized by the bank and be approved as your new responsible party. The bank may charge you a processing fee for them to re-do the paperwork.

Answer 5

yes you can do this but the bank is going to want to know why you want to do this and you,ll pay a fee for all the paper work that's going to be involved in doing this,but it can be done with no problem,if that's what you want to do,all you have to do is call and set up an appointment to have this done,or in most cases just go in during normal business hours,and they,ll do it for you,good luck with it,i hope this help,s.