Quick advice with my loan!

acb5456 · ‎12-25-2013

Hi everyone! Quick question that hopefully someone can shed some light on: In April of 2012 i bought an Acura. I was 23 and didnt have much credit so my Uncle co-signed with me because he has great credit, recieved a loan for $16,000 @ 4.2% for 60 months. Fast forward 18 months later and i have perfect payment history and a few good credit cards added to my credit profile., average agoe of account is about 2.5 years due to student loans.

I was wondering, what is the next step so that i can get my Uncle off of the loan and so it is in my name only? Let me know if you need any more information!

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Luscher · ‎12-25-2013

The only way to get another person off your loan is to get a new loan. Examples: get a new car, refinance your loan with another company etc....

Having him as a co-signer does not hurt you at all, it does help him though ( assuming you pay in full and on time )

notfancy · ‎12-25-2013

If you have a relationship with a credit union, talk to them about refinancing. You might get a lower rate, and get the loan put into your name only.

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oscar_actuary · ‎12-28-2013

pay if off in full

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