Is it possible to remove my cosigner from my car loan?

I want to remove my cosigner for my car loan to become more independent and I finally have the credit and financial means to do so. How can I remove my cosigner?

Answer
It’s awesome to hear that you want to be financially independent! In this case, you have several ways to remove the cosigner from your car loan, including:
  • Check to see if your lender has a cosigner release form and if you’re eligible for it
  • Refinance the loan
  • Paying the loan off in its entirety
In the case of a cosigner release form or a car refinancing, you need to make sure that you have enough income and a good enough credit score to get the job done. If you don’t, it’s unlikely that the lender will want to remove the cosigner based on the calculation of risk.
If you refinance or pay off the car loan, the next step is to think about your insurance. That’s when Jerry can help. With a quick sign-up process, you can compare rates from dozens of companies and get the best value. Jerry will even take care of the paperwork, so you have all of the coverage with none of the hassles.
Eric Schad
Answered on Oct 21, 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.
thumb-up

Did this answer help you?

Ask us a question by email and we will respond within a few days.
thumb-up

Have a different question?

You can meet us at our office and discuss the details of your question.
Let Jerry’s experts help you find savings on your car insurance!
No long forms or spam · Get quotes from 40+ carriers
Find insurance savings (100% Free)
rating primary
4.7/5 Rating on App Store