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    sgtusmc's Avatar
    sgtusmc Posts: 3, Reputation: 1
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    #1

    Apr 14, 2011, 05:45 PM
    I am the co-signer on a car loan in NYS can I register the vehicle?
    I am the co-signer on a car loan in NYS can I register the vehicle
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Apr 14, 2011, 05:47 PM

    How is title held? Being a co-signer does NOT give you ownership.
    sgtusmc's Avatar
    sgtusmc Posts: 3, Reputation: 1
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    #3

    Apr 14, 2011, 05:49 PM
    It is still held by the lien holder
    sgtusmc's Avatar
    sgtusmc Posts: 3, Reputation: 1
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    #4

    Apr 14, 2011, 05:52 PM
    I am not sure but the bank told me I could just go to DMV and have the vehicle registered in my name. The person I signed for no longer wants the vehicle and if I am going to be resposible for the loan I would much rather trade the vehicle in for a newer vehicle.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #5

    Apr 14, 2011, 05:55 PM

    The lien holder is not the owner. The owner has to sign over title to you subject to the lien holder's agreement. Then you can trad it in.
    AK lawyer's Avatar
    AK lawyer Posts: 12,592, Reputation: 977
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    #6

    Apr 14, 2011, 08:38 PM
    Quote Originally Posted by sgtusmc View Post
    ... I would much rather trade the vehicle in for a newer vehicle.
    Then do that. Bring the vehicle to the dealer and let the dealer take care of the registration issues. You will want your new trade-in registered in your name, not the one you co-signed on. Dealers do that all the time, so they should know how to handle the paperwork.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #7

    Apr 15, 2011, 03:12 AM
    Quote Originally Posted by AK lawyer View Post
    Then do that. Bring the vehicle to the dealer and let the dealer take care of the registration issues. You will want your new trade-in registered in your name, not the one you co-signed on. Dealers do that all the time, so they should know how to handle the paperwork.
    The owner f record will still need to sign over the title back to the dealer.

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