Trading In A Car Not In My Name
I want to change my car, but it's not in my name. I would like a new car with my name on it. I still need it
My father signed the car, but he no longer wanted a loan in his name. The local dealer told us we could make an exchange and it wouldn't hurt my dad's credit. I don't think it's easy to do.
Can you change your car? no way. This is not your swap car because it is in your father's name.
Never....
Can your dad buy a car for the one you bought? Safe. The dealership buys the car, pays off your dad's debt, adds a new car, pays off what's left. If you trade in a car for less than your father's debt, you will have more E left in your new car and you will probably need a reasonable payment to make the deal work, but what? can go. This will not damage your father's credit as the loan will be canceled.
I now!
If you agree to the exchange, just sign the document by sending the file to the dealer. The car can then be exchanged and a new loan for another car can only be made in your name.
It removes the parent's name from the old loan because it is canceled with an exchange and the new loan is in his name only. The only problem with all this is that you have to be ready to sign the paperwork, hand over the file to the dealer.
Another very important point. If you owe the bank more than the actual value of the car, the loan balance (the difference between your loan and the dealer who is offering to negotiate) will come out of your pocket. If the swap does not cover the entire ff loan, you will be responsible for covering the difference.
That's already a good answer. I had to mentally take a step back to see what happened.
1) Your father used to buy your credit car. (Someone pays).
2) You want to apologize for the car. (Ice)
3) You spoke to a trader who told you you could trade.
The company that lent to your father had to accept the contract. As long as you have money you will not mind. We don't know the amount, but if the dealer pays your car loan and gives you some extra money, you will get gold.
OTOH, if the dealer gives you less than the loan company wants, you will have to make a difference so that your parents can get the loan.
Your suspicions are correct and it won't take five minutes, but it can be * as easy * as paying off the debt using the extra money you want to buy another car. ...I now !!
