Find Seized Car Auctions Near You

Know Where To Buy Your Dream Car For A Low Price!

Whether It Is A Mercedes, BMW, Honda, SUVs, Trucks...

Drive Your Dream Car For 90% Below Retail Prices!

Start Looking For Your Dream Car Now!

The bank does not want to release my car unless I can have a co-signer for the loan. Is there a law that I can quote that states that I do not have to provide a co-signer for the auto loan?

9 Comments »

1. 

   Auto finance is what I do for a living and lets face it you have already defaulted on the loan once so why would the lender let you have their vehicle back without a co-signer?

   The lender has a right to protect their investment and you have shown that you are not trustworthy.

   Frankly, I don’t think you deserve to get the vehicle back and anyone that co-signs for you is a idiot.

   Comment by SPIFIMAN1 — July 1, 2009 @ 9:07 am

2. 

   but surely as you are getting it back from repossession then you have already defaulted on the loan in the first place……they must have the right to protect their investment…….

   regards

   Comment by candy g — July 1, 2009 @ 9:07 am

3. 

   You are out of luck. The bank is saying that you are not creditworthy enough and they want someone more financially responsible on the loan to make sure they don’t have to hunt you down and repo that vehicle again.

   It’s one of the perks of not paying your bills on time.

   Comment by bdancer222 — July 1, 2009 @ 9:07 am

4. 

   There is no such law. If the bank does not feel you qualify on your own for a loan they are with in their right to ask for a co-signer.

   Comment by OC1999 — July 1, 2009 @ 9:07 am

5. 

   There are many auto loan options available today. Today, stiff competition among auto loan financing companies<!–has made it possible to get a car loan or an auto loan at favorable terms.

   http://badcredits.awardspace.com/autoloans.htm

   However, before you sign the paper for financing your favorite set of wheels, do your homework to ensure that you get the best car–>finance option. You can apply for online car loans on the Internet, or get it from your car dealer.

   Comment by Horse M — July 1, 2009 @ 9:07 am

6. 

   Of course there are no laws forcing banks to loan money when it looks like they would just be giving it to you. Since you aren’t going to pay for the car you need to produce someone willing to do it for you.

   Comment by Landlord — July 1, 2009 @ 9:07 am

7. 

   Sure they can.

   Comment by rockman1091953 — July 1, 2009 @ 9:07 am

8. 

   I must agree with Spifiman1, you do not deserve your vehicle back.

   You have already show yourself not to be responsible.

   And anyone that co-signs for you is a idiot.

   Comment by STEPHANE O — July 1, 2009 @ 9:07 am

9. 

   You already defaulted once, of course they can demand a co-signer.

   Comment by LYNN T — July 1, 2009 @ 9:07 am

RSS feed for comments on this post. TrackBack URL

Leave a comment

Name (required)

Mail (will not be published) (required)

Website