We want to get a car that will be under both our names, because the one we have right now is actually under my husband's uncle's name, only we are making the payments for it. We are unsure what to do, because we still owe alot on the car loan, but we want to get a car that we can actually afford and be able to call ours, but we don't know what to do or how to do it. SOMEONE PLEASE HELP!!!!
2006-12-27 05:28:16 · 6 answers · asked by Chula~Latina 1 in Cars & Transportation ➔ Buying & Selling
You can trade in the car if you take your uncle with you, as he has to sign some papers too. Without him along, forget it!.
2006-12-27 09:33:48 · answer #1 · answered by Trump 2020 7 · 0⤊ 0⤋
To trade the car you will need the uncle's permission as he is still the legal owner if it is in his name. If you owe more than the car is actually worth, which is common, it would be better for you just to give it back to the uncle and get a car in your own name. You can even refinance that same car in your name and then it will really be all yours. That may be the best option. Good luck.
2006-12-27 05:34:34 · answer #2 · answered by SKYDOGSLIM 6 · 0⤊ 0⤋
tell your husband's uncle thank you so much for helping you out, but you guys want to sell the car or return the car to him, so you can get a car with a lower payment (if you really don't like the car just let him know it's not really ideal for what you need to use it for). then buy a new one on your own. If cost is a big issue I would suggest buying a car that is used, at least one year, you will get your money's worth out of it.
2006-12-27 05:32:22 · answer #3 · answered by cadillacrazy 4 · 0⤊ 0⤋
If you still owe a lot on your current car, then it will be hard for you to trade out of it and when you do...the dealer will 'roll' your negative equity in your current car into your new payment. So you may not be helping yourselves out by trading it in. You may have something newer...but dont expect your payment to necessarily drop, even it it is a less expensive car. I hope this helps...good luck!!
2006-12-27 05:32:52 · answer #4 · answered by arniemail 2 · 0⤊ 0⤋
i guess that you could trade it in. if you owe more than the car is worth you are going to end up paying more for a car that is worth less.i would try to wait it out as long as you can. can you see about getting the names transferred
2006-12-27 05:31:58 · answer #5 · answered by mel2430 4 · 0⤊ 0⤋
if you have been making the payments and like the car get the title transferred to your names
2006-12-27 05:30:35 · answer #6 · answered by D42D 3 · 0⤊ 0⤋