Posted on: 30th Aug, 2006 03:58 pm
i co signed for an auto loan..the person who purschased the car is not making the payments..can i have the car impounded?
Hi,
I think that might not be of much help.
It would be much better if you can convince him get regular with the payments.
If you impound the car, that will not clear his loan obligations.
jacob
I think that might not be of much help.
It would be much better if you can convince him get regular with the payments.
If you impound the car, that will not clear his loan obligations.
jacob
Hi Joeydiom,
If the person who bought the car is not making payments, you should talk to the lender on this issue. may be he can convince him to be regular on payments and make him aware of the consequences if he does not.
If the person still does not agree to do so, then the lender himself may have the car impounded. You can at the most reveal your inconvenience to the lender and request him to impound the car, otherwise you will be in trouble.
Thanks,
Caron.
If the person who bought the car is not making payments, you should talk to the lender on this issue. may be he can convince him to be regular on payments and make him aware of the consequences if he does not.
If the person still does not agree to do so, then the lender himself may have the car impounded. You can at the most reveal your inconvenience to the lender and request him to impound the car, otherwise you will be in trouble.
Thanks,
Caron.