In 2003 I got a new car. My 1/2 sister was going to co-sign for me b/c I was only 21 &.....?

her credit was more established than mine. Anyhow, when we got down to working the deal we were able to get a lower interest rate by putting her name first on the car %26amp; my name 2nd. So basically, I co-signed for her. I have made all the payments %26amp; am down to only 17 more payments! Whoo-hoo! Now the problem is...me %26amp; my 1/2 sister are not on speaking terms...she wants her name taken off of the car. The only way to do that is to refinance. I refuse to do that b/c of the charges %26amp; additional interest. I have the $ to pay the car off, but I worry that once she gets the title...she'll take the car. Can she do this? What are my legal rights?

In 2003 I got a new car. My 1/2 sister was going to co-sign for me b/c I was only 21 %26amp;.....?
She cannot make any changes to the contract/finance or anything else that has to do with the car without your consent. The fact that she is the primary holder doesn't make a difference. Your name is on it to and you both have equal rights. Don't let her get a hold of the car keys though. If she takes the car you can't report it stolen because her name is on it too. She just wants her name of the car to be bitter. If you're making all the payments on time and you only have a few more, you are actually helping her credit as well as yours. If you want facts contact your finance company about the issue. But take it from me...She cannot do anything without your in person signature and consent.
Reply:Don't pay off the car yet--refinance it in your own name---when that's done, then pay it off. It will be worth the extra cost b/c then she can't keep the title......some lessons cost more to learn than others...I'm sorry this happened to you--you seem very responsible.
Reply:Well, you should be able to negotiate this with her because there is nothing she can do to get her name off that loan unless you agree to refinance. The lender will not let her off of the loan. They will insist that the only way she gets off that loan is if the loan is paid off. Therefore you can tell her that you will pay off the loan, but only if she signs the title over to you. Usually the bank is holding the title and will send it to you several weeks after the loan is paid. Get her to sign a letter to the bank asking to take her name off of the title before they send the title out once the loan is paid. Actually, you should talk with the bank and have them help you work out a way that she does not get the title when the car is paid off since if she does she might then refuse to sign it over to you.
Reply:Get her to sign a release saying that she does not have a claim on the car.





Avoid co-signing agreements with anyone - this is often the way they end up ... in a mess.
Reply:That was a very dumb arrangement to get into. Refinance and get her name off the loan.