Dear Terry,
I had a friend co-sign for an auto loan. I have never been late with my payments in two years, and have two more years to go.

Just yesterday, my friend asked me to either get the car refinanced (I can't) within 30 days or she will repossess the car. My name is on the car also. What are my options and can she repossess the car?
-- Ivonne

Dear Ivonne,
Is this friend on the title as co-owner? If so, she has some legal rights to the vehicle. You need to contact a lawyer to determine your options.

You say you can't refinance, but if you have made payments on time for two years, you may be able to find a lender who will make you a new loan under your name alone.

Here are this week's reader questions:

• 5 new cars that may become collectibles • Can my friend force me to refinance? • What can my lender do if I can't pay? • Do I have options if I'm upside down on loan?

If you have a question for Terry, e-mail him at Driving for Dollars. Save money on your car -- sign up for Bankrate's new weekend Car & Money newsletter.