Credit Card Center Advertiser Disclosure

Established Contributor
Posts: 591
Registered: ‎05-05-2012
0 Kudos

Changing Ownership of Car?

Hi everyone.

Ok so i was wondering if it's possible to change the ownership of a vehicle to another person? I have a Nissan Sentra which i got last year in August but i needed a cosigner because i had little credit. So my mom's friend decided to use her name to purchase the vehicle and she got it but I'm the one driving it and making all the payments every month.

I tried going to the dealer to see if they could change the ownership of the car to mine since i managed to build some credit but they tell me to call the financial and change it through them. I called the financial of the vehicle and they say it's not possible to do that, but the dealer says yes it can be done.

Anyone here managed to change the ownership of a vehicle?
After all i'm the one making the payments (which is high btw) and i at least want that to show on my credit report .
Gardening Since: March 4, 2013.
In My Wallet: Chase: Freedom Visa Signature | Sapphire Preferred World Mastercard. |
Posts: 10,710
Registered: ‎03-06-2010
0 Kudos

Re: Changing Ownership of Car?

Yes, you go get a loan and buy the car from the person currently on title. That's the only way to have the loan report to your credit report is to have the loan in your name.

Frequent Contributor
Posts: 371
Registered: ‎12-30-2012
0 Kudos

Re: Changing Ownership of Car?

I think you need to refinance the car. I did that. My dad and I were both on my car note and listed as co owners. In 2 and  half years my credit went up and I was able to refi the loan into my name at my bank and just put my name on it at the tax office. I am not sure if it could be done without a refi. 

CSP-$8700, Amex BCE-17.2k, Chase Freedom-$5700
Discover It-$6600, USAA MC-$5900 Ink Bold- $12k United Explorer-$5k

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.