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Infolawyer
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Category: Consumer Protection Law
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Experience:  Licensed attorney helping individuals and businesses.
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In Houston, my brother went to a small dealership to buy a

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In Houston, my brother went to a small dealership to buy a car about 2 months ago. My brother doesn't have good credit, so I'm assuming he needed a co-signer. The sales guy drove to my parents house so my dad could sign the papers. The guy told my Dad that after about a year of payments, my brother would then be responsible for the car. The Finance company called my dad, I'm assuming to inquire about a payment, and he said that he's not responsible for the car and to call my brother as he's making the payments.

Now the Dealership is saying that the loan is under investigation by the Finance company and that they are looking for alternative financing. They want my brother to provide the mileage so they can get new financing. When we call Capital One, they still show the loan as active. I've requested that the dealership provide something in writing from Capital One saying that my father is not responsible for the payments. They won't do that. I really just want to have my brother return the car, but the dealership says that if my brother doesn't refinance, then they will repo the car. Is there any advice that someone can provide? Thanks.

INFOLAWYER :

Hello and thank you for the question.

INFOLAWYER :

Reviewing it now

INFOLAWYER :

are you asking if your dad is responsible for the debt?

INFOLAWYER :

or whether it should be returned?

Customer:

Pretty much. I don't want my dad to get a repossession on his credit report.

INFOLAWYER :

It is best to voluntarily return it

Customer:

And if he returns it, how should he go about doing it?

INFOLAWYER :

whoever has it needs to do so.

INFOLAWYER :

if the vehicle was sold to your dad, and by that I mean that he is on contract

INFOLAWYER :

failure to return it can lead to a mark on his credit

INFOLAWYER :

so as a family you should seek to return it

INFOLAWYER :

and

INFOLAWYER :

to get written assurance that dealer wont pursue further claims

INFOLAWYER :

most dealers will accomodate that

INFOLAWYER :

and proceed to resell

Customer:

OK, but the dealership says they would file a rep if he doesn't refinance and just returns it. Does that sound right?

Customer:

repo

INFOLAWYER :

if he returns it he should be released from it

INFOLAWYER :

for him to refi a car no longer being used is not correct

INFOLAWYER :

since then he owes on the debt and has no car

INFOLAWYER :

he needs to negotiate to return it and then be completely released

INFOLAWYER :

Is that clear?

Customer:

Right, that's what I was thinking. Finance Company reps still show the loan as active, so I want to be sure they release him from responsibility, right now it's just the Dealer's story. Finance company hasn't contacted him. But it's clear.

INFOLAWYER :

Good luck!

Customer:

Thanks

INFOLAWYER :

Kindly click on an excellent rating for the answer

INFOLAWYER :

Very welcome

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