RE: short of buying off the car, is there any way to get out of being co signer or transfer

RE: short of buying off the car, is there any way to get out of being co signer or transfer (Full Version)

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LittleGirlHeart -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/1/2013 6:35:39 PM)
That's it exactly. And it'd be nice if it was, but it's not. quote: ORIGINAL: angelikaJ Not to lecture, but you could break up because you want something different in a relationship than being with someone who keeps things from you (lies of omission), hides information and refuses to take care of himself. In other words, you could end a relationship with someone because you want to be healthier, and being healthier is very hard when the person you are with refuses to change. Sometimes loving someone is just not enough.

MasterCaneman -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/1/2013 9:55:50 PM)
quote: ORIGINAL: xxblushesxx That's not how it works here with joint and several liability. The co-signer can, however, (after paying off the loan) take the other person on the loan to court. (the trouble he has then is, collecting on it.) And by the time that happens, in 45 months by my estimation, that truck will be ready for the scrap yard. It's fourteen years old now (all Sports were made last six months of previous model year), and Exploders got their name for a reason.

OsideGirl -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/2/2013 9:59:42 AM)
quote: ORIGINAL: MasterCaneman but there's probably a reason the truck was priced so high. You can start with it being at CarMax. They're known to be overpriced. Then add in the aftermarket warranty. FYI: the Man says aftermarket warranties are pretty much a waste of money. When something major goes wrong, there's usually a loop hole to keep it from having to pay. (Things like missing an oil change voids the whole warranty) quote: ORIGINAL: freedomdwarf1 I dunno how it works over the pond, but I know here in the UK, in a joint venture like that, the one party making the whole payments because the other party has defaulted, the item can be forced to be sold and the proceeds or remaining debt is split between those left. Or alternatively, the title of the goods passes to the payer by a court order. That's close to what you can do here, but it's an after the fact thing. You'd have to show that you have made a certain percentage of the payments and have the receipts. By the end of the loan chances are the car won't be worth much because if the persona can't make payments on the loan, they don't have the money to take care of the car either.

MasterCaneman -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/2/2013 12:04:16 PM)
Regarding aftermarket warranties. Not all are the same. Some are good, some are bad, some fall somewhere in between. The company my lot dealt with was actually pretty good when it came to actually fixing the cars. And missing an oil change won't void the warranty unless it can be proven as a root cause of the repair. The only time they really check into that is when there's a blown motor, upper manifold gasket, or valve train issue. Granted, a lot of sub-prime customers are not all that with it when it comes to preventive maintenance, but modern cars are pretty forgiving on that issue. As long as they manage to get one every 5,000 miles it's the best we can hope for. This may sound harsh, but most buy-here, pay-here customers really don't have any business owning a car. Their notes are too high for the sole reason that the issuing company wants to get as much back as possible before the customer loses either their job/interest/freedom/life before the vehicle is paid off. They actually factor in the possibility the debtor will die of some cause before payoff. Add full coverage insurance and their other expenses, and there's not a lot left over for actually operating that vehicle. And regarding the issue of a co-signer not on the title but paying the note. I've wracked my brain on this one, but in NYS, there is a mechanism by which you can have the vehicle repossessed by the non-registered owner. It is very rarely used because it requires a lot of conditions to be met (concession by lienholder, current status of note, etc, etc.) But for the life of me, I don't even know what it's called. It never came up during my time there, the only time I even heard of it was in a casual conversation with my old boss. In any event, Little Girl Heart's dad should be consulting with an attorney in his area before taking any advice from us. I was only a salesman who had to learn financing because the lot was too small to have a real finance manager. He should have every scrap of paper he signed, as well as contact info with the pertinent department within the lienholder's company.

littlewonder -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/2/2013 1:14:22 PM)
Yup. Hire an attorney. Otherwise, imo, he's screwed.

LittleGirlHeart -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/2/2013 1:32:46 PM)
I looked at 6/7 places in Sacramento, online, in the last few days, and all their cars were more expensive, sometimes tripple what car max wanted. I have not and at that time did not see any one cheaper that was not a priviate citizen selling their auto. Which after the last time we refuse to go that route. And the people selling their cars wanted 2 and 3 k. so they were not that much cheaper than carmax, if we had onlypa id 7 k. You all can say we were ripped off and carmax over charged us, but they are the only place that had cars at 7 k or even 11k . quote: ORIGINAL: OsideGirl ]You can start with it being at CarMax. They're known to be overpriced. Then add in the aftermarket warranty.

MasterCaneman -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/2/2013 2:08:43 PM)
You'd be amazed at that variables that can go into what a car's floor price is. It can encompass everything from the time of the year to a background shot from a rap video. I can't remember which one it was, but it caused a sudden spike in requests for Chevy Avalanches, which are fucking nightmares to finance because they cross over so many classification models. Movies and TV shows also cause upticks in certain models as well. And then you have to account for the regional inventory (which can cover several states and tens of thousands of available vehicles) and what other dealers are charging for that particular model. After that, it's more basic: how long that particular unit has occupied space on the front line, if it's been rotated to second or third line, overall condition, miles, service/accident history, number of previous and type of owners, trade-in, lease return or repo, trim level, color (grey, silver, and gold cars tend to hang around longest on a lot-white and black cars the shortest time). That said, I still feel you got seriously overcharged for that truck, considering its vintage and miles. I've seen '07s and '08s going for less than that with much lower mileage. Add to that whoever's paying the registration is getting seriously boned on CAFE restrictions for registration thanks to the truck's horrendous mileage. Forget what the DOT numbers are, deduct 3-5 from that and you're about correct.

Hillwilliam -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/2/2013 9:15:28 PM)
quote: ORIGINAL: LittleGirlHeart I looked at 6/7 places in Sacramento, online, in the last few days, and all their cars were more expensive, sometimes tripple what car max wanted. I have not and at that time did not see any one cheaper that was not a priviate citizen selling their auto. Which after the last time we refuse to go that route. And the people selling their cars wanted 2 and 3 k. so they were not that much cheaper than carmax, if we had onlypa id 7 k. You all can say we were ripped off and carmax over charged us, but they are the only place that had cars at 7 k or even 11k . quote: ORIGINAL: OsideGirl ]You can start with it being at CarMax. They're known to be overpriced. Then add in the aftermarket warranty. Googled "used car lots sacramento" First one I clicked. http://www.a1carz.com/ 17 of 47 cars under 5K Face it, you fell for the slick TV ad and got ripped off.

LittleGirlHeart -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/2/2013 10:41:29 PM)
I googled Sacramento used car dealer ships and Sacramento used car lots, a I wonder if we used different browsers or what. because no lying I swear nothing cheaper than car max came up. I didn't hear about carmax from a "slick tv commercial" I saw the car online, they had net adds out for two cars, it was just pictures the price and the description, the one we got, and another one, quote: ORIGINAL: Hillwilliam quote: ORIGINAL: LittleGirlHeart I looked at 6/7 places in Sacramento, online, in the last few days, and all their cars were more expensive, sometimes tripple what car max wanted. I have not and at that time did not see any one cheaper that was not a priviate citizen selling their auto. Which after the last time we refuse to go that route. And the people selling their cars wanted 2 and 3 k. so they were not that much cheaper than carmax, if we had onlypa id 7 k. You all can say we were ripped off and carmax over charged us, but they are the only place that had cars at 7 k or even 11k . quote: ORIGINAL: OsideGirl ]You can start with it being at CarMax. They're known to be overpriced. Then add in the aftermarket warranty. Googled "used car lots sacramento" First one I clicked. http://www.a1carz.com/ 17 of 47 cars under 5K Face it, you fell for the slick TV ad and got ripped off.

MasterCaneman -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 8:55:32 AM)
I went to Auto Trader and found an '03 Sport (last year made) for 7k in Stockton. Based on my limited research on the market there, it's about right in the middle of actual values for that type. But Carmax is known in the industry for being on the high side of price range, mainly owing to their marketing programs. How many other dealerships/vehicles did you look at? Who chose that particular vehicle? Lord knows, as a former car salesman, I've had loads of people show up looking for a particular make, model, and trim level and if we didn't have it they left without a second thought. When I hear the words "I gotta have..." it either means I'm making my commission or I watch 'em drive away.

Hillwilliam -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 9:01:42 AM)
quote: ORIGINAL: MasterCaneman I went to Auto Trader and found an '03 Sport (last year made) for 7k in Stockton. Based on my limited research on the market there, it's about right in the middle of actual values for that type. But Carmax is known in the industry for being on the high side of price range, mainly owing to their marketing programs. How many other dealerships/vehicles did you look at? Who chose that particular vehicle? Lord knows, as a former car salesman, I've had loads of people show up looking for a particular make, model, and trim level and if we didn't have it they left without a second thought. When I hear the words "I gotta have..." it either means I'm making my commission or I watch 'em drive away. Don't try to confuse people with verifiable facts and actual knowledge.

OsideGirl -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 9:09:38 AM)
quote: ORIGINAL: LittleGirlHeart You all can say we were ripped off and carmax over charged us, but they are the only place that had cars at 7 k or even 11k . So what? That doesn't mean that the car wasn't overpriced. Again, CarMax is known to overprice cars. It's a fact. Go on their website and KBB a few of their cars and it will become very obvious. What I'm getting out of this whole thing is that you lack the skills needed to buy a car. (I admit, I'm a terrible negotiator, so I leave that to Himself to handle) You're telling me that out of the entire city of Sacramento, there wasn't a single car dealer with a car under $7k. Don't you see how unlikely that is? Did you check the KBB on that car before you bought it? Did you take it to a mechanic for inspection before you bought it? Again, Himself runs an auto repair shop. He will flat out tell you that after market warranties are basically useless. They're a money maker for the dealer and pay out maybe 1 out of 20 times.

MasterCaneman -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 9:46:45 AM)
quote: ORIGINAL: Hillwilliam quote: ORIGINAL: MasterCaneman I went to Auto Trader and found an '03 Sport (last year made) for 7k in Stockton. Based on my limited research on the market there, it's about right in the middle of actual values for that type. But Carmax is known in the industry for being on the high side of price range, mainly owing to their marketing programs. How many other dealerships/vehicles did you look at? Who chose that particular vehicle? Lord knows, as a former car salesman, I've had loads of people show up looking for a particular make, model, and trim level and if we didn't have it they left without a second thought. When I hear the words "I gotta have..." it either means I'm making my commission or I watch 'em drive away. Don't try to confuse people with verifiable facts and actual knowledge. Well, it's post facto now. The papers were signed and they took delivery. That alone makes rescinding the deal in any manner very hard. I had a love/hate thing with informed customers. If they did their research right, it made my job easier in some ways. When they did it wrong, it was like performing home dentistry without anesthesia. I'm taking a stab in the dark here, but I think that someone had their mind made up on a certain vehicle and that determination is why she's in the boat she's in now. Again, I've seen this numerous times when the boyfriend/fiance/husband (who can't or won't finance in his name for whatever reason) insists on "X" make or model and the girlfriend or wife goes along with it. And while I outwardly didn't and couldn't care (I worked for commission, baby!), I knew that in a few months to a year or so, the deal would blow up in their faces. Sub-prime customers are a weird group to work with. They're often just barely scraping by, yet when they get to the lot, they gravitate to the most expensive units on the line. We'd get folks who work part-time at a burger joint, or who are on public assistance and all they want to look at are higher end SUVs or luxury sedans. As a bartender, I was trained to upsell, as a car salesman on a sub-prime lot, I had to downsell in order to make that sale. We used to joke, "Come in for an Expedition, drive away in an Escort." Because that's sometimes the only deal we could make with them. And that was usually only after they made a huge downpayment (in one case, 83% of the floor price), a stupidly high monthly, and the requirement to have full coverage, which is based in large part on their zip code, employment history (or lack therof), and legal background. One customer who HAD to have an Envoy, ended up with a nearly four hundred dollar monthly loan and a hundred fifty dollar monthly insurance bill just to own a truck that was over ten years old with 90K on the ticker. Not to mention it only got around 14/20 mpg, and she worked as a CNA making around 13 an hour. I worked out everything on her, and at the end of the month, after paying all her other bills on top of her truck, she walked away with a little less than 200 for groceries, childcare, etc. Yeah, she was receiving a shit-ton of government bennies because she exhibited poor family-making decisions which smoothed that out, but still... And the saddest thing of all about that deal was, she really didn't get to drive it. It was all so she could make "her man" happy. And when "her man" went out with the truck and disappeared into North Carolina, and she got stuck with yet another massive bill she couldn't pay, she just stopped paying on it. I still got my commission, though.

freedomdwarf1 -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 10:40:32 AM)
quote: ORIGINAL: MasterCaneman ...I'm taking a stab in the dark here, but I think that someone had their mind made up on a certain vehicle and that determination is why she's in the boat she's in now. <snip> I think you hit the nail on the head with that. BF says "That looks nice. I'd like a..." He finds a sporty version and that quickly changes to "I gotta have..." And in mere moments he convinces GF that "It has to be this..." Then he finds he can't finance it himself so he gets GF to arrange a family cosigner with the story of "It has to be.... Nothing else is suitable and it's the cheapest we can find". [Note to OP: your browser has nothing to do with what comes back as search results] ETA: I put "autotrader sacramento california" into google and got "About 380,000 results (0.34 seconds) " And you got 7. Really??!? Methinks you didn't look too hard. So, OP got a bad one when buying a privately owned car. Big deal. That, to me, smacks of lack of common sense, failure to check, and being blinded by the sales pitch. So for that, she has probably ruled out the best option for buying another. To compound the issue, she chooses a known rip-off dealer and falls for the same trick. Not content with something sensible. Oh no, BF says it has to be..... and the salesman saw her coming. Now the BF has defaulted and the cosigner is well miffed and OP feels responsible - which she is in a way. Personally, I'd do one of two things... A) Find that loophole and get the note re-assigned from the BF, then sell it to recoup some of the money. Then sue the BF for what you're out of pocket for his default. B) Inform the finance company that you have no access to the vehicle that you are now fully paying for and that you are also going to default unless they either i) Remove you from the aggreement, or ii) Re-assign the note to you as you have now taken over full responsibility for the payments (ie, let them do all the legal jiggery-pokery). Then go to reputable a tattooist and have these words tattoo'ed on your forehead - "*Take a mechanic with me when I buy a car*".

LittleGirlHeart -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 10:54:07 AM)
hertz, enterprise, roseville automall, and another lot that roseville automall had, and then a a toyota lot. We also looked through adds online. We told the toyota lot people it has to be under a certain price, and it has to be easy for me to get in and out of since i had health issues with my body that limited mobility. That was our only specifications we didn't have make or model or trim or anything else in mind. And they showed us tons of fabulously easy to get in and out of cars, each costing double what we told them we could pay, and they kept getting higher and higher on each car the showed us, and i kept insisting no it has to be under under this set amount we talked about on the phone and they kept being like well lets see what we can do and lets go to this lot and lets talk to this boss, and why can't you pay 14 and 15 k clear on up to 20 k can't you get a bank loan and blah blah blah. so finally we said well it's clear you have no intention or ability to show us any cars in our priceline, which you promised you'd have when we called on the phone, so we're just going to go. who picked the car we finally bought? Well both of us did. Carmax had it and one other as I said, and we went to go see them both, and the one other was unsuitable for us, we were both to fat,you seriously couldn't move with out ramming the other with an elbow or something, so that left the one we bought, or go home empty handed, again, and it had already been a week and my dad had been driving him to and from work everyday. quote: ORIGINAL: MasterCaneman How many other dealerships/vehicles did you look at? Who chose that particular vehicle? Lord knows, as a former car salesman, I've had loads of people show up looking for a particular make, model, and trim level and if we didn't have it they left without a second thought. When I hear the words "I gotta have..." it either means I'm making my commission or I watch 'em drive away.

LittleGirlHeart -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 10:57:50 AM)
No. I wanted to and James said it wasn't necessary because carmax was reliable and he trusted them not to sell a car that had anything wrong with it. What is KBB? quote: ORIGINAL: OsideGirl Did you check the KBB on that car before you bought it? Did you take it to a mechanic for inspection before you bought it? Again, Himself runs an auto repair shop. He will flat out tell you that after market warranties are basically useless. They're a money maker for the dealer and pay out maybe 1 out of 20 times.

LittleGirlHeart -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 11:02:37 AM)
yeah nice little fantasy you have cooked up for yourself there, but nope. be under a certain price, and it has to be easy for me to get in and out of since i had health issues with my body that limited mobility. That was our only specifications we didn't have make or model or trim or anything else in mind. there was no I have to have this convince Chris, and then go convince my dad that it had to be a ....... nothing else will do. We always knew we couldn't get the car with out help. My dad was the one that came to us both times, and said you're in a jam, you can't not have a car, let me help you. and he had no prompting from us to offer the help. He regrets that now, yes, but we didn't talk him into it or rope him into helping us. he offered out of a place of love and goodness to help his struggling daughter and her beu. We trusted our neighbor. He was selling it, swore the car was in fabulous shape and I told James no I want to take it to a mechanic and have them look it over and James said no, I don't want to, I just want to buy the car and not fuck around with mechanic checks and all that other stuff because the whole time he had no car someone was going out of their way to take him to and from, , and I had no real clout, so he did what he wanted, and yup. It back fired. We will never know if it was in good condition as he said, or not, or somewhere in between. So, now when buying used cars I will never buy from a private individual again. It's lots or nothing. And no get your reading comprehension skills fixed, he has not defaulted, the loan is in perfect 100 percent paid condition. I said that the second post reply in. quote: ORIGINAL: freedomdwarf1 BF says "That looks nice. I'd like a..." He finds a sporty version and that quickly changes to "I gotta have..." And in mere moments he convinces GF that "It has to be this..." Then he finds he can't finance it himself so he gets GF to arrange a family cosigner with the story of "It has to be.... Nothing else is suitable and it's the cheapest we can find". [Note to OP: your browser has nothing to do with what comes back as search results] ETA: I put "autotrader sacramento california" into google and got "About 380,000 results (0.34 seconds) " And you got 7. Really??!? Methinks you didn't look too hard. So, OP got a bad one when buying a privately owned car. Big deal. That, to me, smacks of lack of common sense, failure to check, and being blinded by the sales pitch. So for that, she has probably ruled out the best option for buying another. To compound the issue, she chooses a known rip-off dealer and falls for the same trick. Not content with something sensible. Oh no, BF says it has to be..... and the salesman saw her coming. Now the BF has defaulted and the cosigner is well miffed and OP feels responsible - which she is in a way. Personally, I'd do one of two things... A) Find that loophole and get the note re-assigned from the BF, then sell it to recoup some of the money. Then sue the BF for what you're out of pocket for his default. B) Inform the finance company that you have no access to the vehicle that you are now fully paying for and that you are also going to default unless they either i) Remove you from the aggreement, or ii) Re-assign the note to you as you have now taken over full responsibility for the payments (ie, let them do all the legal jiggery-pokery). Then go to reputable a tattooist and have these words tattoo'ed on your forehead - "*Take a mechanic with me when I buy a car*". \

OsideGirl -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 11:03:41 AM)
quote: ORIGINAL: LittleGirlHeart No. I wanted to and James said it wasn't necessary because carmax was reliable and he trusted them not to sell a car that had anything wrong with it. CA law says you have the right to take it to your mechanic. And trusting a business whose primary goal is to make a profit and they employ human beings....means that you should always have your mechanic look at the car. quote: What is KBB? KBB is Kelly Blue Book, it's one of the primary sources to determine car value. Most financial institutions use that or NADA to determine what price a car should be sold out and car dealers use it to help determine trade in value. KBB has a a website available to the public...www.kbb.com.

MasterCaneman -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 11:31:23 AM)
I won't bore you with any more anecdotes. California Law on Rescission of a Contract. Although, based on what you've told us, none of the conditions necessary appear to have been met. All I can say at this point is, your dad and your SO need to make some kind of personal contract between them if your dad isn't going to get burned here.

freedomdwarf1 -> RE: short of buying off the car, is there any way to get out of being co signer or transfer (9/3/2013 12:06:23 PM)
quote: ORIGINAL: LittleGirlHeart yeah nice little fantasy you have cooked up for yourself there, but nope. be under a certain price, and it has to be easy for me to get in and out of since i had health issues with my body that limited mobility. That was our only specifications we didn't have make or model or trim or anything else in mind. there was no I have to have this convince Chris, and then go convince my dad that it had to be a ....... nothing else will do. Then maybe you can explain why you chose such an expensive SUV, from a known rip-off dealership, and, chose the sporty (even more expensive) model?? quote: ORIGINAL: LittleGirlHeart We always knew we couldn't get the car with out help. My dad was the one that came to us both times, and said you're in a jam, you can't not have a car, let me help you. and he had no prompting from us to offer the help. He regrets that now, yes, but we didn't talk him into it or rope him into helping us. he offered out of a place of love and goodness to help his struggling daughter and her beu. We trusted our neighbor. He was selling it, swore the car was in fabulous shape and I told James no I want to take it to a mechanic and have them look it over and James said no, I don't want to, I just want to buy the car and not fuck around with mechanic checks and all that other stuff because the whole time he had no car someone was going out of their way to take him to and from, , and I had no real clout, so he did what he wanted, and yup. It back fired. We will never know if it was in good condition as he said, or not, or somewhere in between. So... you rejected good advice about getting it checked out. Bad move. Anyone with half a brain cell (or common sense) would know you get things checked out. quote: ORIGINAL: LittleGirlHeart So, now when buying used cars I will never buy from a private individual again. It's lots or nothing. And as I said, you just cut yourself off from one of the best sources of decent cars just because you screwed up on one deal that you didn't take precautions or use common sense with. That's tantamount to shooting yourself in the foot. quote: ORIGINAL: LittleGirlHeart And no get your reading comprehension skills fixed, he has not defaulted, the loan is in perfect 100 percent paid condition. I said that the second post reply in. Granted... My bad. I would re-read posts #32,#33, #35 and #37. You say you didn't have many criteria when searching for a car. To my mind, I think you set your sights waaay to high and didn't stick to your budget. Add to that, you threw away Car Buying 101 and didn't take a mechanic with you has got you into this mess. My comment about search engines and browsers still stand. As does my comment about private sellers. You just didn't look hard enough.

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