Can a co-signer on my car loan have my car reposseseds because they did not like someone that I let drive my vehicle?
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Can a co-signer on my car loan have my car reposseseds because they did not like someone that I let drive my vehicle?
I have a (up-to-date/never late on a payment) car note. The loan is in my name and a co-signer’s name. She is upset because my husband recently obtained a DWI but he has paid and completed all sentencing. We just received the paperwork to reinstate is DL and we are getting ready to make the 1st payment. I recently got sick and he drove my car 2 blocks to the store and got some medicine for me. She saw him driving (we are no longer friends with her, this is what has caused this uproar) and she is now trying to threaten having my car repossessed because my husband drove without a DL and insurance.
Asked on November 10, 2010 under Bankruptcy Law, Texas
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
It seems that it is more of an insurance issue than a finance issue. In other words, your insurance company would be more upset to learn that you let a person drive the vehicle than the finance company, especially if you are up to date on the loan. I think that you need to stop living in fear of her threats and that you should consider refinancing the loan without her on it. If you have been making all the payment and have not been late then you have established your credit and payment history. Talk to the party holding the financing. What you do not need is her holding things over your head. Good luck.
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