Credit Reporting for Auto Loan

[Anonymous]

I bought a car from an individual and would like for the payments to be shown on my credit reports. Are there any escrows or other account types that would do that for us? If this solution would take the money from my account and add it to theirs that would be awesome too. 

Thank you for taking the time to educate me. 

[Anonymous]

I do not know of a way to do this that doesn't involve a lot of headache from the individual who is selling the car and acting as the lender.  There may be a way, so happy to be corrected if someone knows better.

Can you tell us why you are interested in doing this?  Is is it because you have no open loans currently on your report?  If so, there is a far better way to solve this problem.  Let us know if that is the case and we can explain in more detail.

[RobertEG]

In order to report to a CRA, a party must establish a credit reporting agreement with that CRA.

That involves application by the individual, and acceptance by the CRA, which in most cases requires that the party have accounts reporting on multiple consumers.  It also involves fees.

It is difficult, and in some cases not possible, for individuals to report as creditors to the big-3 CRAs.