Is there any way to get out of being a cosigner on my ex-boyfriend's car loan?
"I cosigned on my boyfriend's car loan because he had poor credit. Six months later, we've now broken up.
Is there any way I can get my name as a cosigner off my ex-boyfriend's car loan?"
“It all depends on your ex and whether they’re willing to work with you or not.
If your ex refinances, you can get your name off the loan. If you can convince the bank and your ex to agree to a cosigner release, you might be able to get out of it.
But if you broke up on bad terms, your options are limited. If he stops making payments, you’re on the hook for them. If you don’t have the money, this can potentially ruin your credit.
In the future, a good rule of thumb is to only cosign on car loans for family members to avoid these types of situations.”
Did this answer help you?
Ask us a question by email and we will respond within a few days.
Have a different question?
You can meet us at our office and discuss the details of your question.
Browse by topics
What others are asking
Hybrid vs. electric car: how do I decide which one to buy?
"I’ve been trying to make a decision for weeks and I keep waffling. How do I know which car is right for me? "
Apr 14, 2021
Can I refinance my car loan?
I'm making less money than I used to and I want to save wherever I can. Is refinancing my car loan an option?
Mar 12, 2021