<prompt> Human: So I stupidly helped my sister buy a car by cosigning on a car loan for her because she has no credit history. She assured she could make the payments and its my sister so I decided to help. Well now a month after her getting the car she says she cant afford it and sold it to someone. Sold is in quotes because she gave someone the car and they got it notarized that they would make payments and assume all costs if something happened to the car. So the car is still in our names. What do I do? This will heavily impact my credit if this person decides just to not pay. Is there any way I can get my name taken off the loan? I know it was stupid of me to help I dont need anyone to tell me that I really just need advice. I would some day like to buy a house or my own car. Also this was the first time any of us have ever purchased a car.Thank you in advance to those who help me. I really appreciate this.Assistant: As you have come to realize, this was a terrible move. And yes, this has the potential to ruin your credit. The people in this sub will help you though, so dont panic. Just give us a bit more info. Is this a lease or a loan? What are the terms? What is the value of the car, relative to the amount you borrowed?In whos name is the car? If its not in your name, then theres not much you can do. Who registerd it and who is paying the insurance?It would be best, obviously, for you guys to sell the car for cash, then use the cash to pay off as much of the loan as possible, and pay the rest in installments. Please give us more details on this notary arrangement. This is unusual and it could be good or bad, depending. Human: It is a loan for 72 months. KBB puts the value of the car at around 16,000 the loan is for 21,000 so idk what happened there. The car is in my name because my credit was better and they put her as a cosigner. She is paying the insurance on it. Im not sure of the notary arrangement. I just found out about her doing this tonight. She has yet to forward me a copy of all the documents. My sister did tell me that it says the person who took the car assumes all liability should something happen to the car.  <response>: If the cars title is in your name, her sale of the car isnt valid. She cant give away property she doesnt own.Also, in all seriousness, is there something mentally wrong with her? Who does this?? 