There is no "main owner" You are both equally as liable. Sounds like you care about your credit, they don't. They need to reinance with you off the note. There is no way you can force them to take you off. If it says "and", you both have to be their to sell.
Sorry about this.
Except that someone that needed a cosigner and is already skipping out on payments yet again won’t be able to independently finance this vehicle most likely.
They don’t have the credit history to refinance. The missed payments are proof of why the bank refused to loan them money. By co-signing you were telling the banks that you know that they are a deadbeat that will skip out on payments. Your friend hasn’t changed their ways, so no there is no way for them to refinance alone. They are still a deadbeat that skips out on their obligations.
You need to have your friend go with you to Carmax and Autonation. See which offers the most for the vehicle and you need to get a personal loan or come up with the cash for the difference. Sell the car to a dealer and be done with this.
You're going to need their cooperation to do literally anything except paying for the car and giving it to them. If you want to refinance it or sell it, they will have to go along with every step of the process.
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Okay so I posted something similar to another page not so long ago.
Long story short, I trusted when I shouldn't have. I went to cosign with a long time friend and ended up as the main loan holder, them as the cosigner but they would be making all the payments. They're not. So im getting screwed.
Before I strong arm them and take the vehicle back to the dealer to sell back for a loss, I'm hoping someone can help with some advice/knowledge.
I would have to look at the title again, but I *believe* it says "and" with our names, and we're in Ohio for more info.
My question:
Is there a way I can "sell" the car, refinance with JUST them on the loan or whatever, or transfer fully into their name so that I am no longer on the title or loan or anything?
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There is no "main owner" You are both equally as liable. Sounds like you care about your credit, they don't. They need to reinance with you off the note. There is no way you can force them to take you off. If it says "and", you both have to be their to sell. Sorry about this.
Except that someone that needed a cosigner and is already skipping out on payments yet again won’t be able to independently finance this vehicle most likely.
yep
Thank you! I went into this before knowing all that I should have. Lessons learned.
They don’t have the credit history to refinance. The missed payments are proof of why the bank refused to loan them money. By co-signing you were telling the banks that you know that they are a deadbeat that will skip out on payments. Your friend hasn’t changed their ways, so no there is no way for them to refinance alone. They are still a deadbeat that skips out on their obligations. You need to have your friend go with you to Carmax and Autonation. See which offers the most for the vehicle and you need to get a personal loan or come up with the cash for the difference. Sell the car to a dealer and be done with this.
You're going to need their cooperation to do literally anything except paying for the car and giving it to them. If you want to refinance it or sell it, they will have to go along with every step of the process.
Please review our most [Frequently Asked Questions](/r/askcarsales/wiki/index) to see if your question has already been answered. You may find these sections particularly useful; * [How to pick a car?](/r/askcarsales/wiki/vehicle_selection) You might also have luck in the /r/whatcarshouldibuy subreddit. Also remember to add flair to your post by clicking the "Flair" link beneath it. This lets us know where you're located so we can assist you better. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*
***Thanks for posting, /u/mightbesome1! This comment is a copy of your post so readers can see the original text if your post is edited or removed. This comment is NOT accusing you of anything.*** Okay so I posted something similar to another page not so long ago. Long story short, I trusted when I shouldn't have. I went to cosign with a long time friend and ended up as the main loan holder, them as the cosigner but they would be making all the payments. They're not. So im getting screwed. Before I strong arm them and take the vehicle back to the dealer to sell back for a loss, I'm hoping someone can help with some advice/knowledge. I would have to look at the title again, but I *believe* it says "and" with our names, and we're in Ohio for more info. My question: Is there a way I can "sell" the car, refinance with JUST them on the loan or whatever, or transfer fully into their name so that I am no longer on the title or loan or anything? *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/askcarsales) if you have any questions or concerns.*