Car title/financing question
#1
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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
Thanks
#2
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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.
Buy hey, it nevers hurts to ask, so just call up your finacing company and ask them.
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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?
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?
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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.
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.
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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.
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Originally Posted by Chupa
All payments have been made from my bank account
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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.
#9
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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