I get a car under my aunt name with me as cosigner but the bank only have my aunt name can dealers do that?

Question

It was a new car Im the cosigner on the contract
but I'm not on the loan from bank of america can dealer
take me out of the contract

Answer 1

Co-Signers are Co-Owners because titles are no longer , they are strictly . There is a possibility that your name will be on the title along with your aunts , however the loan is just in her name. There are a few lenders who offer that service. I'm not sure if Bank of America does or not.

It might have been the lender who wanted your name removed from the contract or the dealership getting you a better rate by placing the loan in just her name. I hope this helps. You can always email if you have more questions. Good Luck!

Answer 2

You don't have a car, it's your Aunt's. You will not build any credit with this loan. If you signed as a co signor on the loan contract the bank would have put you on unless they got a different contract. Did she sign one without you on it just in case? She may have without knowing it, or she may have signed a blank one. The only recourse you have is if they forged her signature on a contract without you on it. Dealers will pull this stunt on occasion. Make sure that the insurance you have covers her. I think people on this site need to start naming the dealers in question.

Answer 3

Are you 100% sure you are not on the loan? If you just received the statement with only your aunt's name, that does not necessarily mean that you are not on the loan. It simply means that she is the primary buyer, and most everything you receive will have just her name. Call Bank of America and ask them what names are on the loan. I am willing to bet that you are on there.

Answer 4

It is better for you, that they did. Now you are not responsible for the debt if your Aunt defaults on the loan. Evidently, your Aunt didn't need a co-signer. good luck.

Answer 5

its probably better for you that they didn't add you to the loan ,if you say much about it though the loan on it might not go through,this way the are not going to be be to hold you totally liable for the loan,so i think id leave it like it is for now,she probably didn't need a co signer on it,so this works out better for you,good luck on it.

Answer 6

There's a big difference between a "co-signer" and a "co-owner" which is what you are apparently thinking about. A co-signer has no ownership rights, even if they are the ones that end up making payments.

Answer 7

maybe your aunt has good credit but adding yours made it so you didnt qualifee...can the do it not really but if u fight it you maybe wouldnot get loan.