selling a car

[Staci]

I've asked a similar question before, but this one has a different spin on it. I have a car I'd like to get rid of by selling to either a dealership or a private individual (preferrable an individual). Nothing is set up yet, and I don't want to get into a sale until I understand some things. I have a loan on the car right now, but the cosigner and I are no longer friendly. I have been faithfully paying on it and driving it, since I am the actual owner, but now for financial reasons I really need to get rid of it. What I want to know is: if I sell the car and receive the money to pay off the note to the bank, do I still need to get the cosigner to sign off on the vehicle, since the loan is paid off and done with? And if so, can they just contact him and get him to go in and officially sign whatever needs to be signed or do I have to be involved somehow (besides signing myself, obviously)?

 

[Tracey]

If he's just a cosigner on the loan, you can do whatever you want with the car. As long as you pay off the loan, he can't complain. Talk to the bank about what forms you need for the sale & release of lien.

If he's a co-owner on the title, you need his signature to sell the car.

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.