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Omega blood · #1 10-15-2005, 02:13 AM

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 · #2 10-15-2005, 10:33 AM

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 · #3 10-15-2005, 02:50 PM

It probably would have been better if he had co-signed for you.

Omega blood · #4 10-15-2005, 06:59 PM

Quote:

Originally Posted by anchorbob

It probably would have been better if he had co-signed for you.

Tried that but it wasn't an option.

anchorbob · #5 10-17-2005, 06:55 AM

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 · #6 10-18-2005, 02:27 PM

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 · #7 10-19-2005, 12:27 AM

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 · #8 11-10-2005, 06:32 AM

You might also want to consider your local bank branch..

Sometimes it's easier to deal with a company in person..

Omega blood · #9 11-10-2005, 11:14 AM

Quote:

Originally Posted by Ally

You might also want to consider your local bank branch..

Sometimes it's easier to deal with a company in person..

I will try that after new years. My credit should be fairly clean by then.

anchorbob · #10 11-11-2005, 08:46 AM

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 :)