Question re:transferring car title to me

Avatar for noahs_mommy2007
iVillage Member
Registered: 04-17-2003
Question re:transferring car title to me
3
Tue, 05-13-2003 - 2:46pm
Okay, my car is in my father's name because I didn't have good credit to buy it. I want to put it in my name. I am getting some student loans in August and want to use the excess to pay off my car completely. I want it to be in my name though so that it will show on my credit that I paid it off. What do I need to do? I don't know how this works.

Tammie
iVillage Member
Registered: 04-03-2003
Tue, 05-13-2003 - 4:46pm
Unfortunately, putting the car in your name won't have any affect on your credit report if your father financed the car in his name only. They are 2 separate things all together. You will have to payoff the loan completely to get possession of the title, then your father will have to sign the title over to you, then you apply with your State to issue the title in your name. Even if you have been making the car payments all along, if the financing was in your Dads name, its his credit report that it is being reported to. On the other hand, if he just cosigned with you, it will be reported to your credit report also, whether the car was in your name or not. Hope this helps.
Avatar for noahs_mommy2007
iVillage Member
Registered: 04-17-2003
Tue, 05-13-2003 - 5:07pm
Thanks. That is helpful to know.
iVillage Member
Registered: 02-14-2003
Tue, 05-13-2003 - 6:57pm
Hi Tammie. Lisa gave you great feedback. I wanted to remind you to post your car related questions on our Car Smarts board.

CM Ms Joe Cool

Senior Community Moderator

moneylifecm@mail.ivillage.com

Ms Joe
CM Ms Joe Cool
Senior Community Moderator
moneylifecm@mail