R
Raspberry1047
Guest
I live in California. I needed car and not very good credit......so my sister-in-laws daughter who lives in Southern California and I in the Northern part needed to get rid of her car as she already purchased a new vehicle with payments starting in 6 months. She thought she had a buyer for her car but it fell through. She asked if I wanted the car to take over payments. So I did. The car was only 3 years old and $7200 left on it. I tried to get a loan on the car and found out the car was worth a lot less owed on it. The bank would not loan the whole amount left on the loan. Then I found out that the daughter was separated from her husband and that his father was the co-signer on the loan. Because I was 10 days late on the payment a few times this father got upset and he wants his name off the title. The problem is, is I have made 7 payments on the car, smogged it and registered and the man threatens to take the car and I have no legal recourse. I have gone to the bank again and now the car is less more and the bank will not loan on it. A personal loan will be high interest make the price of the car even higher.
Is there some legal paper that the father and I could draw up to make myself liable for the car and the payments and then it will be paid off in 24 months. I pay for the car insurance on this car also. A personal contract of some kind perhaps?
Is there some legal paper that the father and I could draw up to make myself liable for the car and the payments and then it will be paid off in 24 months. I pay for the car insurance on this car also. A personal contract of some kind perhaps?