Chupa

My car was purchased a year ago, with, I believe, a 4-year financing plan. I imagine I am going to want to sell it at some point next year, and hopefully trade up to something with an LS2. The problem is that in order to get the best financing rate, we put it under my mom's name. Is there a way to get it transferred to my name before paying if off? Both she and I would rather she not need to be involved in any future transactions, if we can avoid it.

Thanks

SteelBallz

Usually the financing company will not release the title (for you to change it) until the car has been paid off.

Buy hey, it nevers hurts to ask, so just call up your finacing company and ask them.

demonspeed

iTrader: (7)

You can buy whatever you want without her, just when you pay your current car off, she'll need to sign some papers. She won't need to be involved in any more transactions unless you dont have the credit to do it yourself.

Chupa

I might try giving GMAC a call then. All payments have been made from my bank account, maybe I can use that as a bargaining point.

The thing that bugs me is if I were to get a good deal on trade-in for a new car, she would have to be there to sign off, right?

pacmantravis

You dont need your mother to get a new car.

However, you do need her there to sign the papers to release the vehicle to the dealership. If you do not have good credit you're either going to need a co-signer (your mother) or a pretty decent sized down payment.

As long as you have some credit with no delinquincies you should be fine.

Chupa

Alright, thanks. When I got the car, I was fixing to graduate from college and had virtually no credit history. Now I've had a job for a while and a few well-maintained credit cards, so I'm not too worried about my credit.

demonspeed

iTrader: (7)

They probably won't care about that. The only way that car loan has helped you is if your name is also on the loan. I've had to do it myself as i'm only 21. If it wasn't for my mom signing her name for me, i'd be stuck in a Cavalier - but she's been there for me since I was 16 when I bought my IROC.

GREATWHITE

if your cedit is decent you may be able to refinance it in just your name if your payment history is in good standing. I have done this several times, co-signed with my sister and 8 mos. into it she refinanced her car in her name only. Just another possibility.

blue2000Z28

Call GMAC. I got my car even with bad credit(and it wasnt my credit)and a good rate also. they are very nice, and they WILL work for you to try to get you a car. Thatts what they are there for is to SELL. They will not want to turn ANYbody away, but they do try and help