Found an issue on this page? Let us know and we will look into it as soon as possible.
If the co-Signer on a car loan dies does the other owner need to give up the car?
Anonymous4 views1 answers
My father was the cosigner to my 09' Maxima in which I've been making regular payments ON TIME for almost a year now. I couldn't get my own car because my credit is/was horrible (I recently paid off my debts). My father has since and now I'm wondering will the bank let me keep the car and continue making payment or will they take the car back because they don't trust I'll make the payment?
No, you'll be able to keep the car and keep making the payments as you always have. The lender won't even know that your father died unless you tell them.
You don't mention whether your father was also a co-owner on the car's title, and if so, you need to look at whether he left a will and if so, who he left his interest in the car to.
Disclaimer: I'm only licensed in CA. Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.
