My question involves an auto loan or repossession in the State of: IL
I made a big mistake. A close friend of mine, who has terrible credit, asked me to cosign on a car loan for his 19 year old daughter with no credit. I agreed and actually, I ended up being primary borrower on the car and she is secondary borrower. Both of our names are on the vehicle registration. She has the car and has made the first payment, however some things about her ability to make good decisions with the car and it's use has lead me to realize that I want out of this situation. What is my legal right to re-selling the car? Does she have to sign it away, or can I take the car and get rid of it without her signature? I don't really want to keep it, but could trade it for something else or try to sell it outright. The lender is a credit union which we joined at the time of the sale of the car. I would appreciate any help (and yes, I have learned my lesson to never be a co-borrower again!)

