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do co-signers have any rights?...please help

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angellyn206

Guest
Back in Feb. 1999, my boyfriend of 5 years at the time agreed to assist me in purchasing a Honda Civic. I put down $2500 and traded in a vehicle worth $4000. The total down payment was $6500. For the first year and a half we had a joint savings and checking account and were making the monthly payments of $202.76 out of those accounts. I had possession of the car, and I was paying for the entire insurance.

Then, we broke up and I took over the entire payments until December 2001. All of a sudden I begin to receive threatening calls and emails from my ex claiming that the car is his and he wants it back. I contacted the bank that holds the loan and they informed me that I am the co-signer on the loan and not the primary holder. However, I was never aware of this. Why would they put him as the primary holder if I was the one trading in my car and he did not even have a valid driver's license. (revised addition: The car has not been paid off so the bank currently holds the title) All the documents that I have show both of our names. He came to my residence yesterday, Dec. 23, with the authorities and took the car.

What can I do to at least get my money back? Do I have any rights as the co-signer? What steps do I go through to get this resolved? Any advice upon this matter will be very appreciated!!!

Help me please!!!
 
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HomeGuru

Senior Member
Something does not sound right. If both of you had title to the car, then one owner cannot just take it away. You are getting confused with who is on the loan and who has title to the vehicle.
 
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angellyn206

Guest
The car is not yet paid off completely, so the bank still holds the title. I hope this edit clears up any confusion.

Thanks!
 

ellencee

Senior Member
angellyn206
the bank has a lien on the title. the bank is not listed as the owner on the title, but is listed as the lienholder.
check and see whose name the title is in--the name of the person that gets the tax notice may be a start. the bank can tell you who is listed as the owner (purchaser) on the title that they are listed as lienholder. check your loan papers, too. If he got the loan in his name, regardless of who made the downpayment, chances are the title is in his name. I think the best you can hope for is co-ownership, but since the authorities came with him to get the car, I doubt you have co-ownership, either.
Perhaps one of the lawyers on this site can tell you if you have any legal recourse to recoup some of your money, or prove that the vehicle was intended to be yours, with him financer only. By the way, how long did you have the car in your sole possession after the break-up?
Good luck.
 
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angellyn206

Guest
I have had the car in my sole possession since the purchase. So it has been 3 years. I do know that he is the primary loan holder and I am only the co-signer.

Any other suggestions?

Thanks.
 
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ZorroTheAvenger

Guest
Possession is irrelevant. Look at the paperwork from the dealer: who is listed as purchaser? If both of you are listed, you are co-owners. If just the ex is listed, then you are just c0-signer on the note (the obligation to pay) without any rights to possession.
 
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angellyn206

Guest
The dealer papers (vehicle purchase agreement and loan agreement) have both of our names listed.
 
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glomaz

Guest
You need to prove that the $2500 came solely from you, that the $4000 trade-in belonged to you, and that you contributed half of the monthly payments. This you can try to recover. Intentionally or not, it seems like this guy got himself as the sole title-holder and you were both co-signers on the loan.

Ethically, you should reimburse him for half of the monthly payments, get the title in your name, and regain possession of the car.

Good Luck.
 

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