Auto >> AutoSPT >  >> Car Care

Does a co-signer have the right to take vehicle from owner if payments are not made?

In general, a co-signer does not have the right to take the vehicle from the owner if payments are not made. However, the specific rights of a co-signer may vary depending on the terms of the loan agreement and the laws of the jurisdiction in which the loan was made.

Typically, a co-signer is someone who agrees to repay a loan if the primary borrower defaults on the payments. This means that the co-signer is legally obligated to make the payments if the primary borrower does not. However, this does not mean that the co-signer has any ownership rights to the vehicle.

If the primary borrower defaults on the loan and the co-signer makes the payments, the co-signer may be able to take legal action to recover the money they paid from the primary borrower. In some cases, the co-signer may also be able to repossess the vehicle, but this would typically require a court order.