Board Topic: Paying off a cosigned loan
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Paying off a cosigned loan

Posted by: Katrinka May 23 2004, 04:14 PM
I cosigned a car loan for my boyfriend. He has left and left the car with me. I want to take his name off of the car so that he has no legal use of the car. I will continue paying for the car myself. He will no longer be paying for the car. How do I get just my name on the title etc.

Posted by: loanuniverse May 24 2004, 08:53 PM
Katrinka:

I am not a consumer lender, but as I read your post it seems to me as if this is your boyfriend's car and in order to get title you would need to get him to sell you the car. I think that the best way to approach this is for you to get a loan personally and use the proceeds to pay off the other loan. That way your boyfriend is taken out of the picture completely. You don't want to be in a position of paying for a car that will not be yours at the end. Talk to a consumer lender with the bank that has the loan right now, they will tell you what it is that you need in order to get this rolling.

Hope this helps.
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