Rights of a loan co signer

louisiana

i am a cosigner on a vehicle loan for a relative. i am positive they will not continue to make their payments for the loan.
what rights do i as the guarantor for this loan have in taking possesion of the vehicle or removing myself as guarator because of the reason for default by my relative.

[JETX]

Regretfully, you have no rights in this matter.

By allowing yourself to be the co-signer (guarantor) of the note, you have already made yourself the responsible party if the debtor fails to pay.

As for taking posession of the vehicle, unless you had the vehicle put in your name, you have no right to the vehicle.

The only thing you can do is to pay the note if the debtor fails to, then take the debtor to court to try to recover your damages (the amount you paid in behalf of the debtor).