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How do you take a cosigner off of your car loan?

What do I need to do to take a cosigner off of my car loan? My dad cosigned my car loan because I was right out of high school and my credit wasn’t great. Now, my score has improved and I want to take him off of the contract.

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Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
Improving your credit score is no small feat, so congratulations!
To take a cosigner off of a car loan, you’ll either need to talk to your lender about a cosigner release or refinance the loan.
  • Cosigner release: Some lenders will allow you to remove a cosigner without refinancing, but others won’t give you the option, particularly if you don’t meet certain income or credit score requirements. Some loan agreements also don’t allow cosigner releases. If your lender doesn’t allow you to release your cosigner, you’ll need to refinance the loan.
  • Refinancing: Refinancing your loan could get you better termssince your credit score has improved. Refinancing means you sign a new loan agreement, so your dad would no longer be the cosigner.
If you’re considering refinancing and would like help exploring your options, use the
Jerry
app. Jerry makes it quick and easy to find the best rates available on the coverage you need. Just answer some quick questions and you’ll get access to a comprehensive list of competitive quotes from top providers that work for you.
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