Legal Question in Real Estate Law in Georgia

I became the primary borrower on an auto loan for a friend who didn't have good credit. She hadn't been making payments on time and I told her she needed to get the car out of my name. Now, my car is having issues and I want her car out of my name so I can go get a new auto loan. Is there a way for me to take the car back that she is driving without paying any penalties. She paid $4,000 as a down payment on the car but is currently over-under on the loan and claims she won't give me the car without giving her the $4,000 she put as a down payment. Do I need to give her this money when I obtain the vehicle even though I will not be gaining anything out taking the car to sell it and get it out of my name? And do I need to take her to court to officialy get the car or can I just have it towed to my residence?


Asked on 3/23/10, 3:26 pm

1 Answer from Attorneys
Glen Ashman Ashman Law Office also dba Glen Ashman Attorney

You can't take her car whether she pays or not unless you have a written contract with her.

Plain and simple, you get to pay for her car. That is what cosigning means and you can't undo the mistake later. Don't cosign things you can't afford to pay for.

If she'll agree in writing to give you the car in exchange for the $4000 (and that only works if you are on the title now), that's likely as good a deal as you will get.

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Answered on 3/28/10, 3:38 pm


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