Overhaulin'

How can i refinance my car loan with a different co-signer?

My cosigner on my car loan needs to be removed. Can i refinance with a different co-signer?

Public Comments

1. You'll have to get a new loan to pay off your old loan. The loan company can't simply change your existing paperwork.
2. "needs to be removed" doesn't tell us much. But, generally speaking, once a loan has been set with the an acceptable cosigned, there is no changing it. I assume your cosigner had seconds thoughts? Too late for that now if everything is signed and the loan is already in place.
3. Since your question says "how can I refinance" my car with a different co-signer, you must be aware that it will have to be done at a bank. All you have to do is go to the bank of your choice and tell them you want to re-finance your vehicle. This should cost you nothing. Car refinancing is not like home refinancing. They don't charge fees to do car refinancing. It is a very simple task but some things will have to happen. The car's value will have to be close to what you are financing. Depending on your credit score the bank have parameters as far as the loan to value percentage will be. You will also have to get the other cosigner from the previous loan to sign off of the title.
4. You may apply for a refinance with a new cosigner. Both you and your cosigner must qualify for the refinance.
5. Put simply? Yes, you can if you are in a state that allows the addition and removal of co-signers during refinancing.