Is vehicle registration deductible?

I purchased a car with my grandmother as a cosigner why is her name on my vehicle registration?

• I purchased the car and asked my grandmother to be a cosigner because I am new to credit and she has fantastic credit. I got a great interest rate but I just looked at my vehicle registration and it has both of our names on it. I am the one who put the money down is making the payments, the car is mine but for some reason even though she lives out of state her name is on my registration. I am also trying to prove I am an independent student but with her name on my registration I am worried they'll think she helped pay for the car or something. My boyfriend had to have his mother cosign for his car as well and he said his name is the only one on his registration, her name is only on the loan. So why is my grandma on my registration and is there a way to remove her?

• Answer:

  You won't like my answer. YOU don't really own this car, your grandmother does. It was her credit used to secure financing, and the bank put her name on the title as the co-owner. That makes it easier for them to go after her for the money if you ever stop making payments. The ONLY way to get her name off is to pay off the loan in full. then have her (if she will) release her interest in the car. I highly doubt the bank would allow her name to be removed because you have little credit history, and they want someone to be "on the hook" if you were to default.