We both agree the car is all mine and he has no problem removing his name. The problem is my insurance went way up due to him having to be insured also because he's co-owner and well, his driving record and credit history aren't helping out. How do I get rid of his name and keep everything else?!!
2007-03-01 15:27:26 · 7 answers · asked by sprinkle_sprinkle 2 in Cars & Transportation ➔ Insurance & Registration
My credit is great.
2007-03-01 16:00:35 · update #1
you will have to refinance in your name only and he has to agree to take his name off. when he is off and the paperwork is final, contact your insurance agency. thats what happens when you sign a loan and get a car for someone else. you may have good credit but you did not make a good choice.
2007-03-02 09:14:47 · answer #1 · answered by MiaDiva28 6 · 0⤊ 1⤋
Is there a lienholder on the loan? If there is, you would have to go through them to refinance the auto, and have the boyfriend release interest. Then the car would be registered to you, with the lienholder as the legal owner. When you pay off the loan, the lienholder would release the title to you. If you don't have a lien, you can transfer the title into your name by having the boyfriend sign a notorized release of interest form, if the vehicle is less than 10yrs old, an odometer disclosure form will be required, the boyfriend would sign as the seller, and you as the buyer, even though no money is transferring hands. It's a federal law. Then you would take the title and other documents to the DMV for your state. Transfer fees would apply.
2007-03-01 17:10:56 · answer #2 · answered by fisherwoman 6 · 1⤊ 1⤋
Banks are dying for your business. It depends what you owe, your income and your personal credit history. There are numerous on line bidding sites (bank who bid for your business). If your loan isnt too high, under $15k, many credit card company's offer 0 percent interest, many until July 98. Chase visa for example. However, look for a bank that will not charge a fee to transfer funds. Read all of the fine print, and never miss your payment due date. Look for a credit card company that will give you rewards for transferring, like Sky Miles or Points that equal to cash back.
2007-03-01 15:40:49 · answer #3 · answered by 117447 1 · 0⤊ 1⤋
If the boyfriend is living with you he still has to be listed as a driver even if his name isn't on the title. With some companies if you don't have everyone in the household listed as a driver and they get into an accident there may not be any coverage.
2007-03-02 01:50:07 · answer #4 · answered by blb 5 · 0⤊ 1⤋
The only way to get him off of the loan is to refinance the vehicle.
2007-03-01 15:37:51 · answer #5 · answered by Anonymous · 1⤊ 1⤋
There is no way that you can until the loan is paid off. I hate to be the bearer of bad news but most states are the same.
2007-03-01 15:39:06 · answer #6 · answered by smartwomen 2 · 0⤊ 2⤋
ask your insurance company if you can put a rider on your policy stating that he will not drive the car. they may or may not aprove.
2007-03-01 15:31:26 · answer #7 · answered by KRIS 7 · 1⤊ 3⤋