my co-signer took my car

[princesslori28]

Nevada

Last year my grandma co signed for an auto loan for me. Recently she came and towed the car away from my house when I was sleeping. Does she have the right to do that? It is my name on the car registration not hers. If she is the one responsible for the loan since she is the co-signer can I get my name off the car then? Is there any sense in me paying for something she can take any time she wants to? How can I remove my name from the loan?

 

[JETX]

Are you sure that your name is the only one on the title???
Was she listed as a lienholder??
Was the vehicle shown as security for the loan agreement??
Were you current on your payments??
Are you sure that the co-signer took the vehicle and not someone else??

 

[princesslori28]

Are you sure that your name is the only one on the title??? ME and her. It says both our names on the registration but has my address.

Was she listed as a lienholder?? No, Honda finace

Was the vehicle shown as security for the loan agreement?? No

Were you current on your payments?? YEs

Are you sure that the co-signer took the vehicle and not someone else?? 100% positive she has. SHe has it locked in a storage.

They told me since she is the co-signer she is 100% responsible for the loan, and for me it doesnt matter. So can I just take my name off it then since obviously she is responsible and if i dont pay it will relfect her credit. I would much rather go buy something else and get it in my OWN NAME. Or can i call the police and say she stole my car, since my name is also on the registration and its my address.

 

[JETX]

Your subsequent post is different than your original... and that difference is substantial!!
Original: "It is my name on the car registration not hers."
Now: "It says both our names on the registration but has my address."

That is a MAJOR difference.

So, with that 'new' fact.... both of you have equal legal title to the vehicle (address doesn't matter). Accordingly, for some reason, the co-owner decided that she was entitled to take possession of the vehicle (which is within her rights). And until such time as the title is transferred (with both of your signatures), both names will remain on the title.

Lets take a look at your new questions:
Q1) "They told me since she is the co-signer she is 100% responsible for the loan, and for me it doesnt matter."
A1) I don't know who the 'they' is, but 'they' are not correct. Both of you are equally responsible for the debt. Most co-signer agreements list a primary and a secondary liable party. The primary would normally make the payments.... and in the event of breach, the secondary would then be liable for the payments. And any credit history for one.... will be reported for both. That is why it is so important to NEVER co-sign for someone else. It is just like giving them a credit card with your name on it.

Q2) "So can I just take my name off it then since obviously she is responsible and if i dont pay it will relfect her credit."
A2) Nope. Both of you are equal owners. As noted above, the only way to get your name off is for a mutual title transfer or sale.

Q3) "I would much rather go buy something else and get it in my OWN NAME."
A3) You may get that opportunity anyway.... and then own 1 1/2 cars!

Q4) "Or can i call the police and say she stole my car, since my name is also on the registration and its my address."
A4) Nope. You are BOTH owners, so there was no 'theft'.

Your only available option as I see it is to try to negotiate some 'sale' of the car to remove your name from the title. Simply, you can offer to sell your 1/2 to her for a minimal amount and, if she accepts, get payment and sign the title. Or, you can take her to court to try to recover your payments.

 

[princesslori28]

So this is the deal. I have no idea where she is storing the car. If I was to find it and drive it away, there is nothing she can do about, So basically we will be playing back and forth games. If i take she cant report it stolen. She is claiming she is the primary owner cause she co-signed and I cant do anything about it.

 

[JETX]

Pretty much correct. You are both equal owners.... unless there is something to the contrary in your written agreement.

 

[princesslori28]

Before u were saying I can take her to court, small claims I asume and I can get back the money I ve paid since the car was bought last august. Does that mean downpayment, payments, andthing I may have added to the car.

 

[JETX]

If you will re-read what I said, it was not you "can get back the money I ve paid since the car was bought last august." What I did say was, "you can take her to court to try to recover your payments".

Here is the issue:
1) You both co-own the vehicle (title in both names).
2) You have made certain payments towards the vehicle and the 'other' owner has made certain payments (assumed).
3) You still haven't said what prompted the 'other' owner to seize the vehicle. That could become a KEY issue if this were to go to court. I can't imagine the secondary co-signer just up and deciding that they want possession.

And finally, if you were to go to court, depending on the FULL facts, the court *COULD* order that one of you keep the vehicle and reimburse the other for the moneys paid, less any 'reasonable' amount for usage and wear.