If i co-signee the car for my step daughter...

[coffee]

...and she fall behind in payments can i refinance and take car?

[jonboy2five]

if she falls behind you will be REQUIRED to make the payments or have it hit YOUR credit. But you can always tell her the car is yours if you are paying for it...

[gizmoe]

You're a real sweetheart, aren't you?

[ak4lucky]

if you only co sign and are not on the title, she would have to be willing to relinquish it to you, and if you refinanced you would technically be buying it from the loan company. Remember that the car will depreciate quickly and may not be worth anywhere near the outstanding loan balance. You cannot simply take the car if you are not on the title, you will not legally own it but you will be financially responsible for paying for it and have your credit dinged if payments are not made. Keep in mind if you cosign it will appear as a debt on your credit report as well. If your name is on the title you will also share financial responsibility/liability as part owner of the vehicle in the event she has an accident. I would not put my name on the title but have a separate legally binding agreement with her on what the course of action must be in the event she cannot pay for any reason. You also would need to check with the finance company beforehand to be sure that what you agree to is permitted under the terms of the loan. It does get a bit complicated.