scottieboy561

ok here the situation looking for some sort of legal way out without hurting my grandpa's credit.

My uncle wanted to buy a car. He needed a co signer for the loan because of his credit. My grandpa co signed the loan for him. Long story short my uncle dosent pay a dime for the car and my grandpa is stuck paying 500 bucks a month plus insurance. Both names are on the title.

The car is worth about 11k and the loan has about 4k left on it.

How can my grandpa get the car from my uncle without hurting his credit.

Sorry if its a bit unclear.

sgtmorph

I'm not exactly sure how to answer this but I'm sure the fact that your grandfather makes all the payments can be confirmed by the lienholder receiving the payments as well as his bank account where the funds are being withdrawn from.

Step 1: talk to a lawyer!

scottieboy561

Yea tomorrow I am going to call the dealership and the insurance company and see if their is anything they can do.

RL1924

Yea its a toughy, what does your uncle say about giving him the car back is he just being a dick about it? Its hard because my understanding of a co-signer was they didnt think he would be able to handle it so your grandpa signed if he screws up ill cover it.. I assume the car is in your uncles name?

scottieboy561

my grandpa pays for everything registration included. My uncle is being a dick about giving the car up and thats part of the problem. My grandfather has near perfect credit and dosent want to run the risk of ruining it if he dosent have to. yes the car is in my grandfathers name.



My question with the co - signer is if grandpa was to stop paying for it would it hurt my uncles credit first then they would come to my grandpa for money after the re possessed the car?

Mr_Z

Is the title solely in your grandfather's name?

If so, maybe he can call the cops and say that the car was stolen if your uncle is being a dick and not giving it back. Just a thought. Not sure if that would work or not.

scottieboy561

The title is signed by both my uncle and my grandfather. But the car is registered to my grandfather

TelosHedge

you need a bat and a shovel. it makes people act like adults again.

jojipoji

possession make a big difference. does your grandfather have a key? he can just take it because its in his name. he can go to the dealership have a key make (need copy of reg) get a key and drive the car away because if title and reg is in ur grandfathers name then he should be in the clear.

GRUNTS2K

I'm in a similar however I am not making payments. Your grandfather can technically declare it stolen and then brought back to him. Worst case scenario, which is totally illegal BTW is to somehow total the car i.e. burn it have insurance pay it off and BAM you kill 2 birds with one stone. Your uncle has no car and your grandpa's credit is safe because the car is now paid off and now has money left over. THE LATTER PART IS VERY ILLEGAL AND I DO NOT CONDONE IT IN ANY MANNER!