by dino71 on October 24th, 2006

dino71

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I co-signed for a car loan for my sister,but know she can't pay. She is not around to sign the agreement to sale the car to a dealer that will buy it. Will the finance company take it back? It has been about 1 yr. the car is in excellent condition.

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  • by Darryl61 on October 24th, 2006

    Darryl61

    They might take it back. Keep in mind, it will show as a repossession on your credit history if they do, and you will be liable for any difference between what they sell it for, and what is owed. This would be a last resort for you.

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  • by Angeleve on December 27th, 2006

    Angeleve

    Yes they probably will take it back if the payment is not made. you can get your sister to sign a temporary power of attorney. The fiance co does not care where the money comes from just that it get paid. Maybe there is am agreement you can come to to pay the car and then in the meantime get your sister to sign off on the title once it has been paid.

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