Rights of Main Signer on Auto

[grendlesgirl]

I am the main signer on a truck for my ex bf. He is either a co-signer or not on the loan at all. It is registered in his name. He has made all of the payments on the truck however he owes me a lot of past rent and I just don't trust him. Do I have the right to take the truck and sell it to get the loan out of my name? Would I have to pay him back the $2000 he has put in it and for the new tires? By the way - we never had a verbal agreement on this so I don't consider myself in obligation to him - I will probably be owing even after selling the truck for less than is owed on it. Thanks for any ideas or advice!

[Mr. Knowitall]

If you're not on the title, it's his car. But if that's the case, you would have to explain to me why somebody would give you a car loan without having the car as security.

[grendlesgirl]

The title is in the name of the bank I am the main lienholder.

My options I think are to take the truck - sell it - and take ex bf to small claims for remainder owed. He may try to sue me for the cost of tires and stereo system he put in it.

The other option I have been considering is let him keep driving it until he either misses a payment or has it paid off more so there is less difference between amount owed and amount it sells for.

What do you think? Everyone says to go get the truck but I cannot afford the payments and so far he has paid on it each month .... I can check the account status whenever I need to...

Open for ideas - thanks - Kelly

Kelly

[Mr. Knowitall]

If he's not in default, you can't repo the car just because you don't trust him. If he is in default and you repo the car, do so under the laws of your state. If you sell the car in a manner consistent with the repo laws of your state, and it sells for less than he owes (usually including repo fees and the cost of sale), you won't owe him anything for the modifications.