How do you get someone off of your car loan?

What steps do I need to take to get someone off of my car loan? I bought a car with my brother during college, so we cosigned the loan. But he never uses the car anymore, I make the payments myself, and he doesn’t like the idea of having that legal responsibility.

Answer
Cosigners are great for getting loans, but they’re often permanent! In some cases, your agreement may include a cosigner release—which would allow you to remove the cosigner. However, those are fairly uncommon. Luckily, you can use one of these two alternatives to take someone off your car loan:
  • First, talk to your lender about the issue. If your lender is agreeable, they may let you remove your cosigner! But they also have the right to refuse.
  • Refinancing the loan is another way to remove a cosigner—though it’s really just paying off the loan they cosigned. When you refinance a loan, you’re essentially taking on a new loan with better terms to pay off your first one. Since the new loan will be paid off, your cosigner will no longer be needed!
If you decide to refinance, be sure to shop around for your ideal lender with Jerry. Use our refinance calculator and avoid the hassle of searching for lenders yourself. Jerry makes it easy by finding the best lenders at the best rates.
Liz Jenson
Answered on Nov 20, 2021
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