The answer to this question depends on the specific terms of the loan agreement and the laws of the state in which the vehicle is registered. In general, a cosigner does not have the right to take possession of the vehicle from the borrower without the borrower's permission. However, if the borrower defaults on the loan, the cosigner may be required to repay the loan in full. In some cases, the cosigner may be able to repossess the vehicle in order to protect their financial interest.
It is important to note that the laws governing vehicle repossession vary from state to state. In some states, the cosigner may be able to repossess the vehicle if they have a security interest in the vehicle. In other states, the cosigner may need to obtain a court order before they can repossess the vehicle.
If you are a cosigner on a loan and are concerned about the borrower defaulting on the loan, it is important to speak with an attorney to learn about your rights and options.
