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How can I do this?How can I do this?
Omega blood said: "I am paying for a car that is not mine. Actualy it is mine but the loan and title is under my father in-law's name. My credit score has improved but not by much experian (565), equifax (567), Transunion (589) all at the "poor" level. I have insurance on it and have been paying directly from my bank account over the net. My question is how or can I transfer the loan to my name or add my name to the loan? Since I am paying for I should get the history to show for it. TIA for any help."
DonM said: "The only way I know is to actually buy it from him. You just cant add your name to it. Your name has to appear on the title when it was bought. You could ask your father in law to refinance and put you on as a co-owner though. There might be other ways but this is the only way that I know of."
anchorbob said: "It probably would have been better if he had co-signed for you."
Omega blood said: "[QUOTE=anchorbob]It probably would have been better if he had co-signed for you.[/QUOTE]
Tried that but it wasn't an option."
anchorbob said: "It might still be worth a re-financing. Give a try to Capital One Auto Financing and see if they will approve you for a new loan to re-finance the car."
Omega blood said: "Thanks again bob. I have a card with cap1 for 3 months and just paid it off. I will probably try at the begining of the year when some of my old debt drops off. Shouldn't be too hard by then."
David said: "Be careful with Capone..
too many people have had problems with them blood suckers..
Myself included.
They act fast and worry about the dead later."
Ally said: "You might also want to consider your local bank branch..
Sometimes it's easier to deal with a company in person.."
Omega blood said: "[QUOTE=Ally]You might also want to consider your local bank branch..
Sometimes it's easier to deal with a company in person..[/QUOTE]
I will try that after new years. My credit should be fairly clean by then."
anchorbob said: "Just be prepared and you'll do fine. It's a great feeling to have your own damn car in your own damn name too :)"
Ally said: "Good luck to you!"
Omega blood said: "[QUOTE=anchorbob]Just be prepared and you'll do fine. It's a great feeling to have your own damn car in your own damn name too :)[/QUOTE]
You bet! :) :cool: It is a good feeling."
Omega blood said: "[QUOTE=Ally]Good luck to you![/QUOTE]
Thanks! I apriciate the comments. :)"
hunterfoster said: "I Have Been In The Automotive Industry For 17 Yrs.if You Have Made The Payment And Paid The Account Out Of Your Account. You Can Can Take Your Statement To Your Local Bank Showing Were You Have Made The Payments And You Should Be Able To Get Financed.your Father N Law Will Have To Agree That You Can Purchase The Car And Sighn Off. Make Sure The When You Go To The Bank That You Do Not Ask For More Than Loan Value On The Car.if You Do Not Know What It Is Call A Local Dealer And Ask For The Used Car Mngr ,most Of The Time They Will Be Glad To Assist You.if Not Call Me .hunter Foster 6623655255 Grasanti Ford"
Omega blood said: "Thanks Hunter. I pay on line out of my bank account. I also get the paper statment for the car so I know what is owed."