Used Cars: car title transfer, car title


Question
I cosigned for a car for my friend and he recently told me that that he couldn't afford to pay the loan on the car anymore. I am thinking about just paying off the entire loan, but I want the car, and the title to come back in my name. What should I do?

Answer
Well you need to get the title in order before you pay it off.
Whose name is the title in?  That is key...if it is in your friends name, go to a tag agent, and have him sign it over to you, when you get the title in your hand with your name on it, then pay it off.
I would love to go into more detail about what you should do, but it really depends on whose name is on the title.  If you wish let me know and I will tell you the next step, but in general, you just need to make sure to get the title in your name only, before you pay it off.  Let me know if you need further assistance.  If you tell me about the title with all the information surrounding it, I can tell you in more detail on what to do.