i need sum help, i dont own a car but iv been using one for the past year, a friend of mine who had better credit had taken out a car n financed it. Only because my credit wasnt good. With that said, the car was still gonna be for me, cuz i told her i was gonna pay for the insuarance(which also would be on her name) and for the monthly payment on the car. Now, that was a year ago, last dec of 08. I was there when the guy sold my friend teh car a the dealer, he kne who i was n said that in about a year, that my friend could switch over the name over to me. Now, its one year later, n i call up the dealer place, n the guy who sold us the car is no longer working there. So now im stuck n im not even sure how this whole thing works. Does anyone know how my friend could change the title over to me and/or does she even have enough equity? cuz i remmeber hearing that last year. Because i know if its switched over to me, makin me the owner of the car, i would be on the bill for the payments and also for my own insurance. But i just wanna kno, if it can work out n wat steps must be followed??Car title change!!! i need help Asap?
A simple way for you to do this is just to have your friend add your name to the title along with hers. You can do this by both of you going to your local court house and requesting the form to add a co-owner. This is a common form. People who get married for example use it all the time. Just remember to use the word, %26quot;OR%26quot; between your names instead of the word, %26quot;AND%26quot;. The difference is that if you use the word OR, then any one of you can sell the car at a later time. If you use the word AND between your names on the title, then both of you will have to sign the title when the car is eventually sold.
When the car is paid off, you can have her name removed from the title.
To obtain credit for the payments you've made on the car - make sure to save your payment receipts and your checks from each payment. If your bank doesn't return your canceled checks to you, then make a copy of each check before sending it in and attach the monthly receipt to it.
Your payments may not show up on your credit bureau report - but a car dealer will take them into consideration when you show them when financing your next car. I'm a Dealer and we do it all the time.Car title change!!! i need help Asap?
that's an amazing story.
