Can a co-signer on auto refinance if the word "OR" separates their name?

Asked over 1 year ago - West Palm Beach, FL

Long story short: I co-signed on a car (dumb). Other owner is nowhere to be found (and has the car with no registration or insurance) and I've been making all payments to save my awesome credit. Since 'or' separates our names on the loan as well as me having papers where I was given power of attorney to handle means of this automobile, may I refinance the car in my name, notify co-owner's next of kin, and report the car stolen?

Attorney answers (1)

  1. Heather Morcroft

    Contributor Level 20

    Answered . You could refinance or buy a new car if you could get a loan, but that may be very difficult to do if you don't have possession of the car.

    ***Please be sure to mark if you find the answer "helpful" or a "best" answer. Thank you! I hope this helps. ******

Related Topics

Cosigners and bankruptcy

Cosigners can run into trouble if the borrower declares bankruptcy. An automatic stay won't help a cosigner, but some bankruptcy chapters offer codebtor stays.

Thomas O. Moens

Thinking of Co-Signing a Loan?

Many people have a misconception that as a co-signer, you are not responsible for the debt, or you are less responsible than the primary borrower. Unfortunately, co-signers are just as... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.


Ask now

19,739 answers this week

2,503 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

19,739 answers this week

2,503 attorneys answering