I co-signed a car but I am listed as the primary account holder for the loan
I co-signed a car and want to be removed. My first thing is that I am listed as the primary account holder for the loan, but I signed the papers as the co-signer/co-buyer. If to fix the situation as being the primary account holder means refinancing needs to be done, what can the primary buyer do to be refinanced if she needed my credit score in able to get the car. Also, what can I do if she is not able to be refinanced?
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The buyer can get another cosigner or you can sell the car to pay off the loan. These are your only options if financing cannot be obtained independently.
You cannot be removed from a loan. The car buyer must obtain a new loan (without your cosignature) and use the proceeds to pay off this one. If the buyer cannot get a new loan, then you're stuck.
First of all you do not "co-sign a car". I assume what you mean by this is that you co-signed a loan, and the money was used to buy a car. Once you signed that loan YOU OWED THE MONEY.
Once a loan exists, it exists, and you will owe the money until the loan is paid. If you do not want to owe the money, then you need to pay back the money you borrowed. You may not think "you" borrowed the money because the car went to someone else. THE BANK AND THE COURTS DO NOT CARE. All they care about is that YOU signed the loan, so as far as they are concerned YOU owe the money and you owe ALL of the money to the bank, and the only way to change that is to pay the money back.
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