Acclaim99

Alright.

Basically my car is being held hostage by the other person the car title/loan. It was all co-signed with the other person being the primary.

It was also registered to that person for lower car insurance, and then I'd just pay them and they would pay the company.

So, thats it in a nutshell.

Mazda makes it for where to remove a name off the title/loan, a Transfer Of Equity form has to be filled out, theres a slim chance of me getting the other party to fill this out.

My options I can think of:

Go to a bank and get a loan for the remainder, and pay it off.

Can I (I printed the Mazda loan ap off mazdacredit.com) re apply for a loan there, with me being the primary, or is that only for a buying a new car from that dealership. Like, can I fill this out for a loan to repay the original loan for the car I bought there.

I have a 4.9% rate through Mazda Credit, if I get the Transfer Of Equity filled out without the other party, it's sure to go up, I can get a 6.5% from the Federal Credit Union, would that be easier?

Provide some insight please!

zaglo6204

so you had someone you aren't related to cosign as the primary? why? & they won't let you drive it, or its being figuratively held hostage by the money you owe...please elaborate.

Mugatu

iTrader: (1)

wait, huh?

Acclaim99

No, I'm related to them.

The cars registration is in their name, they told me that they were going to report it stolen if I took it.... long story, big argument, etc. I talked to the cops here, they said she can do that and I'd get arrested, as they don't look to see whos name is on the title, when someone is pulled over, just reg.

NoTears316

Since the other person is the primary, you wont be able to do squat without thier consent. The transfer of equity will work provided that "the other" fills out thier part of it (they will have to be present to do this, so no forgery, sorry).

Acclaim99

They have to present at the dealership? Or, can they fill out their half and leave it for me to fill out my half.

I can't refinance the car and get it all in my name by filling out another credit ap to pay off the loan can I? Er, will it work?

yiksing

You are in deep ****

Red_X8

I'd leave them with the car and go get another one.

Acclaim99

And this is just the easy part ;-), well last step of this battle... so thats why I just want it over with, once this part is taken care of, then I am free again ;-).

Plus, I haven't driven it in like 2 weeks now, I miss it. I am being bounced around from an Intrigue and a pick up with 200,000 miles... 3 broken doors, and a terrible odor.

They have said they want to give me back the car, its just going about it the best way for the lowest monthly payments.

NoTears316

Yes, this "other person" will have to be the one doing the transfer. If that wasnt the case, you could simply show up with some paperwork and refinance anyone's car.

Acclaim99

I thought about that, and actually had an 06 RSX picked out, then they called me tonight and said they got the Transfer Of Equity form, but it would be best to get a bank loan for it.

:-\

Terrance26

Looks like your relative have your ***** in their hands. If they don't want to give you the car back their is nothing you can do. Just let them have it and let them pay for it, can they afford it? If not they will be giving it back to you soon. Instead of refinancing just go get another 8. Because without that other persons consent to sign it over then I am afraid its over.

yiksing

I would leave the car with them, if you get it back, make sure you do an inspection.

Ike

Is this "other person" your mom and you're a teenage kid?

zaglo6204

why the hell did you put yourself in this position to begin with??? anyway, best of luck. be safe with that vehicle, should you get it all to yourself.

aggietiff28

If this gets really out of hand, you might have some options. If you can prove that you have been making the payments on the car...check stubs, bank records, anything...there is a good chance that you have a case. Not a great one, but still a case. You would need a good lawyer though.

One other thought for you. Does your relative have enough money to fight you in court? If not...possibly just the idea thrown out there of hiring a lawyer, with a bit of research on your options (i.e. free consultation with an attorney about your situation) might entice him/her to give up the title to the car and let you have it.

Oh yeah, if you do just "give them the car," make sure to take your name off of the loan as the co-signer if you can.

One more thing, if you decided to get another loan to pay off the car, the primary person on the loan would receive the title for the car anyway, and it doesn't sound like you would get it back.

Acclaim99

Ah.

Well, my main plan is to get the Transfer Of Equity signed first then I'll either go through Mazda Credit again or another loan service.

Acclaim99

Other person is a mom, and no where near a teenage kid....

I didn't know exactly what position I was in until everything went down (she also had her name on my bank account, and took that money) etc.

yiksing

Since its a mom, then ask your mom nicely what she wants done, work something out.

NoTears316

Okay... I'll bite. So, you're no where near being a teen... so how on Earth does an adult end up with thier mother's name on thier bank account?! Are you under her care? Like... are you physically or mentally unable to care for yourself and that is why she is so deep in your adult life? Perhaps its kinda like Waynes World, and you live in your mother's basement?

sti_eric

So, your mommy grounded you?
Is there something you're not telling us, like you failed to make payments on the car so she took it?

DailyDriver2k5

Look on the brite side, better your mom owning it then some D*ck head that may try to ruin your 8. Just buy your mom some flowers, give her a big hug and tell her you love her......she'll fold!

Nodoz

if you have to get a co-signer, you probably shouldn't be getting that car.

Acclaim99

Nope, nothing like that.

Anyway, I guess a transfer of equity doesnt take the name off the loan credit. So, it's either get a loan for the remaining balance 19k, or get an 06 RX8.

If I get the loan, it'd still be in their name after its paid off... grr

Ike

There's more to this story than what you're telling us. How old are you, why was the loan made in her name, how was she able to take you car, why did she take your car?