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    helpme199's Avatar
    helpme199 Posts: 4, Reputation: 1
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    #1

    Mar 15, 2010, 07:34 AM
    I cosigned for my friend to buy car
    Hi, I was wondering if someone could help me. I cosigned for my friend to buy a car about 6 months ago and he stopped paying. If I had to start paying the monthly payment, Can I take the car and drive it myself if he won't give it to me voluntarily if I bring him to court? I would rather make the payments and confiscate the car from him since he won't pay and I could sell my other car. We don't get along anymore, I guess it's a lesson learned that I shouldn't cosign for friends :-( Any legal experts here?
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
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    #2

    Mar 15, 2010, 07:40 AM

    You would want the title changed over to your name... with the friends name NOT on it. Otherwise they would still own it legally.

    Clearly you care about your credit... so I would ask him to sign it over... so you can get it in your name... if he doesn't. I'd sue for it. The only alternative is letting it get repossessed which would ding your credit rating.

    Consider this a lesson learned about cosigning.
    excon's Avatar
    excon Posts: 21,482, Reputation: 2992
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    #3

    Mar 15, 2010, 07:46 AM

    Hello h:

    It's HIS car. If he won't give it to you, then he won't, and you can't take it either. You CAN sue him in small claims court for the money, though, and I would.

    excon
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