I helped a good friend of mine purchase a vehicle in the latter part of 2007. Because of this person's poor credit rating and history of auto accidents, it was too much for them to have purchased any vehicle (shy of outright purchasing a vehicle). I volunteered my very high credit as a way of assisting them in the purchase of a brand new small car.
I am the primary buyer, the other is the co-signer (this was the only way we could manage to make the payments reasonable). Since the purchase the co-signer has taken the vehicle back their state of residence. The agreement, although verbal, was that the co-signer would pay either myself or the auto-loan company each month and that where sometimes the entire payment might not be paid by the co-signer, I would pick up the difference. I also pay for the insurance of the vehicle, where as the co-signer pays for maintenance and fuel.
At no time has the co-signer paid me, nor after repeated requests for each payment have I received anything (sometimes not even an excuse). The vehicle is registered in another state (Texas), I live in California where the vehicle was purchased. The title is still in trust of the Auto Loan company.
I no longer wish to pay for the vehicle and would like to sell it.
What rights do I have to the vehicle?
Can I just walk on the property of the co-signer and drive the vehicle away?
Does the co-signer have any right to the vehicle?
Can the co-signer file a stolen vehicle report against me, if i take it? Can I hire a Private Investigator or Repossession company to obtain my the vehicle on my behalf?
Thanks for reading my inquiry.