Tips on Buying Cars: co-signing a car, luck steve, credit checks


Question
I recently helped a friend co-sign for a car. I have to admit, i fell for the line the dealership used, offering co-signers $1000. I went there with my friend, and she found a car she liked and we talked with the salesman. After running credit checks on us both, we were told that her credit was bad enough that if she was the primary owner, her payments would be too high, so I ended up being the owner of record, and she was supposed to be making the payments. We also agreed to split the cost of insurance. Now, the deadline for the 1st payment has already passed, she still owes me her half of the insurance, and I have no idea how to get out of this whole. I know I'm just as much an idiot for falling for this trap, but I'm looking for options. Can you offer any advice? Any help you can provide will be most appreciated. Thank you!

Answer
Hi....At this point may not be much you can do. Was it titled as her AND you, or Her OR you....If it is OR, i would recommend you get the car and sell it and get out of this mess. If it is or, you both have to sign and it will obviously be  a problem..Since you already signed options are very limited...Sorry this is the best chpice you have...Good Luck!!

STEVE