I cosigned on a vehicle for my ex, yet he has made no payments. I have made all the payments so far even though he has always had possession of the car. I will continue to pay if he gives me the car, but if not I am going to let them take it from him. I know it will effect my credit but I am not going to keep paying for it for him. What do I have to do to get the car?
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13Is your name on the title? Did the two of you agree upon the arrangements going in to this? For example, what would happen if he stopped paying, who would own the car, etc.– mikeazoCommented Mar 2, 2017 at 19:20
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3What country are you in?– NL - SE listen to your usersCommented Mar 2, 2017 at 19:21
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4This may fall into legal liability on the ownership of the car, for which you would need a lawyer. And you may want to look into who owns the title for the car, which regardless of the loan agreement is what would really determine who owns the car.– ZibbobzCommented Mar 2, 2017 at 21:17
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Judge Judy hears cases like this all the time. Which means I think you'll need a lawyer.– AndyCommented Mar 2, 2017 at 23:48
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6Who made the payments has no bearing on who owns the car. It is all about the title.– JohnFx ♦Commented Mar 3, 2017 at 2:19
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1 Answer
Ordinarily a cosigner does not appear on the car's title (thus, no ownership at all in the vehicle), but they are guaranteeing payment of the loan if the primary borrower does not make the payment.
You have essentially two options:
Stop making payments for him. If he does not make them, the car will be repossessed and the default will appear on both his and your credit. You will have a credit ding to live with, but he will to and he won't have the car.
Continue to make payments if he does not, to preserve your credit, and sue him for the money you have paid. In your suit you could request repayment of the money or have him sign over the title (ownership) to you, if you would be happy with either option. I suspect that he will object to both, so the judge is going to have to decide if he finds your case has merit.
If you go with option 1 and he picks up the payments so the car isn't repossessed, you can then still take option 2 to recover the money you have paid. Be prepared to provide documentation to the court of the payments you have made (bank statements showing the out-go, or other form of evidence you made the payment - the finance company's statements aren't going to show who made them).
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1For my first car, one of my parents cosigned and their name was on the title along with mine.– quidCommented Mar 9, 2017 at 20:53