Help

[SteveUrkel]

My current truck is under my moms name as she financed it for me 2 years ago.

how do i put it under my name as i want to refinane it to a lower payment

[Noctilum]

Simply buy the car from your mom.  The bank isn't going to just let you put your name down and take her's off without a loan approval first. 

Another option would be to have her refinance but with your name on the loan as co-borrower, which may or may not work in your favor.  She is still on the line for the loan but so are you.  However, you could get a better rate with a co-signer.

[Remember0]

What does your FICO and monthly gross (ie pre-tax) income look like? Also source of income?

[SteveUrkel]

fico 660 or above on all 3. income monthly gross almost 4k. source of income technician

[Remember0]

You should be okay toeither officially buy it from your mom or have her refi and add you as a cosigner. I'm assuming here that the truck isn't underwater. To make sure, what's it's NADA Retail Value of the truck and what's owed on it?

By yourself, you'd be looking at an APR of ~5% through DCU, unless they pull an EQ FICO of ~680ish at which point you'd be looking at ~1.24%.

[SteveUrkel]

Its 33k when i got it. I owe about17-18k on it now. 15k miles on it . 0 miles when i got it