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58 votes

I co-signed for my son's car and he died. I told the bank to come get it and they told me they won't take it

Condolences on the loss of your son. Unfortunately, there probably isn't a lot to do here. A co-signer is equally responsible for repaying the loan as the borrower. From the finance company's ...
Justin Cave's user avatar
  • 27.3k
22 votes

Declaring bankruptcy when I am the primary and my son is the co-signer on his car loan

If he wants to keep the loan he needs to take you off of it (probably through refinancing). Otherwise I'm guessing it will be called and since both of you are responsible your son will be left holding ...
littleadv's user avatar
  • 176k
10 votes

Sold my car, but buyer used fake driver's license and fake TD bank draft

Report it to the police. Also tell the bank what happened exactly. After that, pour yourself a sizeable drink and drink a "goodbye" to your $87,000. It's possible that the police may recover ...
DJClayworth's user avatar
  • 33.4k
9 votes

Declaring bankruptcy when I am the primary and my son is the co-signer on his car loan

You should consult with your lawyer about two things before your bankruptcy: Should your son refinance the car loan to get your name off of it? You don't want your bankruptcy to make the auto loan ...
MonkeyZeus's user avatar
  • 8,473
8 votes

My girlfriend helped me buy a car - Who is responsible if she takes it back?

Since you've said both your names are on the car title, the car is owned jointly by you; if it's in one person's name, they are the owner (barring community property laws and things of that sort; I'm ...
keshlam's user avatar
  • 47.5k
6 votes

Co-signer or Buyer that is the question

The car and registration is solely in my name This may be your magic bullet. You own the car and have every right to demand it back. If she will not give it back willingly, call the police and see ...
D Stanley's user avatar
  • 136k
6 votes

Co-signer or Buyer that is the question

So, what happened is that you bought a car on credit and also made an arrangement with your stepmom that she would cover the loan payments and get to use the car, and that after a year, she would buy ...
Arno's user avatar
  • 2,457
4 votes

Will I be asked to allow a credit check or requried to give my SSN if I pay cash for a used car?

There's no legal requirement for you to provide any of these details for the purpose of a credit application. There's no legal requirement for them to complete the transaction if you refuse. Generally,...
littleadv's user avatar
  • 176k
3 votes

California car title transfer

Send them a formal message that they are no longer allowed to use the car. By "formal message" I mean one where you can show in a future court case that you had told it to them. Ideally this ...
DJClayworth's user avatar
  • 33.4k
3 votes

Does paying cash for a car for a better price work?

Given that auto dealerships probably make a good deal of their profit in financing vehicles, is it still true that paying with cash is better? Better? It might be. You need to do your homework. With ...
mhoran_psprep's user avatar
3 votes

Bought a lemon and the bill of sale has an incorrect price

As @littleadv said in the comments, "In California [and possibly other jurisdictions], buying a used car from a dealership comes with a mandatory cooling off period that cannot be waived." ...
keshlam's user avatar
  • 47.5k
2 votes

Car loan pre approved but not finalized

In the US, pre-approval means only "we don't see any obvious reason we wouldn't loan money to you, and if we do offer you a loan here's the interest rate we expect we would charge." It doesn'...
keshlam's user avatar
  • 47.5k
2 votes

Will a cosigner getting another loan without me affect me in any way?

If you really co-signed, both guaranteeing the loans on both cars, "surrendering" the car is counted as a failure to pay off the loan and will count against both your credit histories. See ...
keshlam's user avatar
  • 47.5k
2 votes

Will I be asked to allow a credit check or requried to give my SSN if I pay cash for a used car?

Many years ago, dealerships insisted that we fill out a loan application no matter how strenuously we told them we wouldn't be getting dealer financing. That seems to have changed over the years. It ...
mhoran_psprep's user avatar
2 votes

Could Paying Off Car Loans Early be Bad For Credit?

I paid off my car loan 6 months early. My credit rating dropped 50 points (from 799 to 749). The stated reason was because they couldn't find any installment loans on my credit record. Which is true, ...
Walter's user avatar
  • 221
1 vote

Does paying cash for a car for a better price work?

You're likely to get a better deal with financing the car through the dealership and then paying off the loan with your cash immediately, just make sure there's no prepayment penalty. The dealership ...
littleadv's user avatar
  • 176k

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