Can you refinance a car simply to remove a cosigner?

I want to remove a cosigner from my loan because I've rebuilt my credit. Do I need to refinance to remove them? Is refinancing the best way to remove cosigners?

Good question! While you can certainly refinance a car loan to remove a cosigner, you have an easier method: a cosigner release form. Most lenders provide this form to remove a cosigner, especially if your financial situation and credit have improved since you got the original loan.
If your lender doesn’t offer a cosigner release, you still have other options:
  • Refinance the car, as you suggested
  • Sell the car and buy a new one
  • Pay off the loan in its entirety
When and if you decide to refinance the car, take a look at your car insurance policy as well. You can save hundreds of dollars by downloading the Jerry app—we’ll get you customized quotes from top providers so that all you need to do is pick the plan that works best for you!
Best of luck with removing your cosigner, and kudos to you for rebuilding your credit!
Eric Schad
Answered on Oct 19, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.

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