cancel
Showing results for 
Search instead for 
Did you mean: 

Car loan - take over payments

tag
Anonymous
Not applicable

Car loan - take over payments

My wife has a car that we are making payments on.  She co-signed with her sister.  She's looking to buy a new car now and I am going to take hers.  Her credit is good and mine is bad due to a 2004 BK.  My question is, can her loan be transferred in to my name only so that she can easily finance a new car?  If so, would the terms have to get renegotiated?  We are 3 years in on a 5 year loan.  Thanks for the help!
Message 1 of 3
2 REPLIES 2
Anonymous
Not applicable

Re: Car loan - take over payments

sorry, not unless you indepenently (w/o your widfe's income and scores) qualify for a new loan.


Message Edited by dnm45227 on 12-23-2007 12:03 PM
Message 2 of 3
Tuscani
Moderator Emeritus

Re: Car loan - take over payments

It would be no different than buying any other car. Your income and credit would have to pass the current lenders requirements.
Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.