My husband and I are tryin to get our car into our name, and not my mother in laws, and every lender has turned us down. We have credit, and pay our bills on time, so I don't understand why they are denying us. If we don't get the car into our name, my mother in law could lose her house. What should I do
2006-07-26 18:01:31 · 6 answers · asked by Anonymous in Family & Relationships ➔ Family
Try to trade it in at a dealership that will pay it off and finance you for a new loan on a different car.
try HSBC auto, they deal with subprime lending.
2006-07-26 18:05:35 · answer #1 · answered by Anonymous · 0⤊ 1⤋
When you are declined, you SHOULD be able to request a free credit report from any of the three agencies: Equifax (TRW), Experian and Trans Union.
Just because you have credit doesn't mean you have GOOD credit. Also (and my husband and I experienced this)... you could have a GREAT credit score, but have a debt to income ratio that is too high for them to be able to give you a loan. If that's the case, you'll either have to eliminate some of your debt or generate more income so that you CAN qualify.
Also, be careful about going from place to place to buy a car, getting declined again and again. Each decline shows on your credit... and just makes it worse. So, get that credit report and/or ask the last place that turned you down WHY they turned you down so you know and can fix it.
Good luck.
2006-07-27 01:17:46 · answer #2 · answered by A Designer 4 · 0⤊ 0⤋
You have the right to ask the company why they are refusing your application. Also, you should get your credit report. There are many agencies online costling $15 or less. Do you or your husband have old credit problems? Maybe something is showing up on your report that you aren't aware of. I'd get it ASAP.
2006-07-27 01:06:06 · answer #3 · answered by wldntulike_2know 4 · 0⤊ 0⤋
First of all, ASK them WHY? Or maybe you are not telling us all the facts. Call an accountant. They know EVERYTHING. I am the secretary at my CPA firm. And most of our income is from auto dealerships and trusts.
By the way, don't you know you can get your credit report FREE one time every year from all of the reporting agencies? Maybe there is something you don't know on them.
2006-07-27 01:11:42 · answer #4 · answered by ravin_lunatic 6 · 0⤊ 0⤋
I think you should solicit legal assistance from a lawyer to organise whatever is needed to thresh out all hindrances pertaining to your loan. A lawyer's knowledge of the law makes him the best person to provide assistance and advice.
2006-07-27 01:13:10 · answer #5 · answered by proelvispresley 2 · 0⤊ 0⤋
bill of sale, register and apply for new title
2006-07-27 01:06:27 · answer #6 · answered by badbear 4 · 0⤊ 0⤋