How to remove a cosigner from a loan
Most lenders do not allow you to simply drop a cosigner from an existing loan agreement, requiring you to refinance the debt instead. This process stops the cosigner's credit score from being affected and lets the primary borrower secure a better rate or loan on their own.
What people tried
Every workaround mentioned in the threads below. We haven’t tested any of them — and nobody here is claiming they worked.
Found another way around this?
Share your steps and trade-offs so fellow engineers don't have to reinvent the wheel. No account required.
How to remove a cosigner from a loan
- 1Refinancing the loan into a personal or student loan under the primary borrower's name aloneDid this help you?
- 2Contacting the lender directly to ask about consolidation, refinancing, or release optionsDid this help you?
- 3Shopping around with local banks and lenders for better ratesDid this help you?
- 4Walking into a local bank or credit union to discuss refinancing optionsDid this help you?
- 5Applying online to non-local banksDid this help you?
- 6Refinancing the loan in only the primary borrower's nameDid this help you?
- 7Paying off the entire loan balance in full to close the accountDid this help you?
- 8Loaning the primary borrower the money directly to pay off the bank, then collecting personal paymentsDid this help you?
- 9Remaining on the loan and hoping the primary borrower continues to make paymentsDid this help you?
In their words
Unedited, grouped by where they were said, most upvoted first within each place, each linked to the thread it came from.
“Canada - Bought a car in 2023, at 6.4% rate. Co-signed by a friend. Now I want to remove him as a co-signer. Do I need to Refinance my car.”source ↗
“I'd like to get my name off this one she has and also help her get one for herself at a lower interest rate.”source ↗
“Just want to see what my options are here so my credit score is no longer affected by that.”source ↗
“My mom wants to get her name off the loan and the title of the car. We just want her BF to have it. He says he can’t get a personal loan or a car loan. Does anyone know how she can get her name off the car and the title?”source ↗
Where this came up
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