2007-04-19 04:02:07 · 8 answers · asked by reds24 1 in Cars & Transportation ➔ Buying & Selling
Two things come to mind that you can do. First, you can call the bank that you currently have the loan with and ask about refinancing in just your name. If they are not able to do that, they you may have to have him "sell" you the vehicle for the amount of the loan and then find a bank that will be willing to lend you the money.
Best of luck to you!
2007-04-19 04:12:13 · answer #1 · answered by Jen B 2 · 0⤊ 0⤋
If his income qualified and yours didn't, the best idea is to give up the car to the person who actually qualified for it in the first place. There's a reason why you didn't qualify, and it's very likely that it's because your income won't support the payments. You are both better off making sure the car doesn't get repossessed, no matter who takes it. Just be careful.
Your bank will take them off the loan, but they have to agree to it. You can't force this to happen, particularly since you wouldn't qualify for the loan yourself. The two of you will have to sign papers at the bank. Call your loan officer and they can do it for you.
2007-04-19 04:13:15 · answer #2 · answered by polly_peptide 5 · 0⤊ 0⤋
The only way to get him off the loan is to pay it off. I assume you are also on the loan... if this is the case then I would make it mandatory that the car be sold or refinanced. You wouldn't want to find out two years from now that he missed a couple of payments and now you owe the debt.
2007-04-19 05:34:40 · answer #3 · answered by Erik Paul 1 · 0⤊ 0⤋
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2016-10-03 06:05:53 · answer #4 · answered by truesdale 4 · 0⤊ 0⤋
You can't. I had to pay of a car that my ex-husband took out just before we got a divorce. I asked to have his name removed. Couldn't get it done in 4 years. In addition, he had defered payments A number of time so I had a big lump sum to pay at the end.
2007-04-19 04:11:24 · answer #5 · answered by Anna W 2 · 0⤊ 0⤋
The only way is to sell or trade it. Your partner will have to sign a power of attorney.
If you need help selling and getting a new one, give me a call.
Joe
www.dmautoleasing.com
817-461-8888 x239
2007-04-19 10:04:26 · answer #6 · answered by Joe W 1 · 0⤊ 0⤋
That will be tough. If your credit is no good, they will deny you or charge you HIGh interest rate. I hope you can be adult and civil so and make the payments so you can keep the car if you want.
2007-04-19 04:10:41 · answer #7 · answered by Anonymous · 0⤊ 0⤋
You'll have to refinance the note in your own name alone. That's the only way.
2007-04-19 16:09:43 · answer #8 · answered by Bostonian In MO 7 · 0⤊ 0⤋