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Can I legally take a car that I am a co-buyer of if the other co-buyer is not making payments and has a history of being late?

Lakeside, CA |

Can I be sued for the amount that was already paid if I didn't contribute.

Attorney Answers 3

Posted

Your agreement with the party from whom you bought the car would govern the consequences. If you purchased the car from a dealership, you should contact their finance department.

Best of luck.

www.Taslaianlaw.com

Armen Taslakian. 818. 937.3590. www.TaslakianLaw.com. Note: Armen Taslakian is an attorney licensed in the State of California. The answer is provided for informational use only. One should not act or refrain to act solely based on the information provided. No attorney/client relationship is created unless an Agreement is signed by the attorney and the client.

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Posted

Sounds like you are concerned that the vehicle will be lost and/or your credit will be damaged. Sounds like you were "helping" someone get a loan in the first place and now they may be putting you in a tough spot. I recommend trying to explain how important this is to the person and instead of just "taking" the car coming to an understanding that if payments are not made regularly, you will have no choice but to protect your interests? Anyhow, however you "think it" try to work it out without just taking it...

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Posted

I don't see how you can "take" the car unless you have a security Agmt and a lien securing the other party's obligations to you.

DISCLAIMER—This answer is for informational purposes only under the AVVO system, its terms and conditions. It is not intended as specific legal advice regarding your question. The answer could be different if all the facts were known. This answer does not establish an attorney client relationship. I am admitted only in California. (Bryant) Keith Martin sbbizlaw.com

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