Need Car Loan Advice ASAP, Dealers, Bankers, Please Help !
#1
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Defined3
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Need Car Loan Advice ASAP, Dealers, Bankers, Please Help !
To make a very long story into a short one, I have a car loan out with a co-signer. The car is in my name just has her as a back up for credit reasons. I tried to refinance a few weeks ago with my bank & was shot down due to some past credit issues. The co-signer contaced me today & said she wants her name off the loan cause she is moving.
What are my options ?
Even though my credit is not good I have been paying on this car monthly for around 5 months. I know that hasn't been too long but will it help out any ?
I need some options here because I guess she has every right to ask that & I should do that for her since she did offer to co-sign in the 1st place. But it seems to me my hands are tied though & I need advice.
Thanks all
What are my options ?
Even though my credit is not good I have been paying on this car monthly for around 5 months. I know that hasn't been too long but will it help out any ?
I need some options here because I guess she has every right to ask that & I should do that for her since she did offer to co-sign in the 1st place. But it seems to me my hands are tied though & I need advice.
Thanks all
#2
Re: Need Car Loan Advice ASAP, Dealers, Bankers, Please Help
Originally Posted by WRxB
To make a very long story into a short one, I have a car loan out with a co-signer. The car is in my name just has her as a back up for credit reasons. I tried to refinance a few weeks ago with my bank & was shot down due to some past credit issues. The co-signer contaced me today & said she wants her name off the loan cause she is moving.
What are my options ?
Even though my credit is not good I have been paying on this car monthly for around 5 months. I know that hasn't been too long but will it help out any ?
I need some options here because I guess she has every right to ask that & I should do that for her since she did offer to co-sign in the 1st place. But it seems to me my hands are tied though & I need advice.
Thanks all
What are my options ?
Even though my credit is not good I have been paying on this car monthly for around 5 months. I know that hasn't been too long but will it help out any ?
I need some options here because I guess she has every right to ask that & I should do that for her since she did offer to co-sign in the 1st place. But it seems to me my hands are tied though & I need advice.
Thanks all
if you find someone with BETTER credit than her to assume another co-sign for the same lease, then that's about it.
and if she's going to be mad if you can't, then that's what she will be. ex-girlfriend?
I got my ex-mother in law off my old car, becuz she wanted to and i wanted to and so that car was used as a trade in on another vehicle which got her and me off of the agreement only by entering another with the dealership, but they got to keep a huge chunk of cash becuz of it.
#3
Re: Need Car Loan Advice ASAP, Dealers, Bankers, Please Help
Originally Posted by WRxB
I need some options here because I guess she has every right to ask that & I should do that for her since she did offer to co-sign in the 1st place. But it seems to me my hands are tied though & I need advice.
In fact, just you trying to get it refinanced is a favor to her. You certainly are under no obligation to do so in the first place. But you're a nice guy, so you at least tried.
#4
yeah u have to refi it thats the only way out. they gave you the loan because she (co) is there to back you up.
If you cant get a refi/trade in approved, its just that. you'll have to wait it out until things change on your end.
If you cant get a refi/trade in approved, its just that. you'll have to wait it out until things change on your end.
#5
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Defined3
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Join Date: Aug 2004
Location: Levittown, PA
Posts: 408
seattledave - Yeah ex-girlfriend Long story but with what she did to me & put me through, not only should I not care but I also shouldn't even try to help her out on this. But I would love nothing more than to see her name come off the loan.
Jenna - Thanks for noticing that & proving there are some decent respectable women out there who notice a good guy.
Jenna - Thanks for noticing that & proving there are some decent respectable women out there who notice a good guy.
#6
Originally Posted by WRxB
seattledave - Yeah ex-girlfriend Long story but with what she did to me & put me through, not only should I not care but I also shouldn't even try to help her out on this. But I would love nothing more than to see her name come off the loan.
Jenna - Thanks for noticing that & proving there are some decent respectable women out there who notice a good guy.
Jenna - Thanks for noticing that & proving there are some decent respectable women out there who notice a good guy.
Here's a sure fire way you can let her know how you can end the relationship with the car: you'll default and she'll assume the lease.
#7
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Defined3
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Join Date: Aug 2004
Location: Levittown, PA
Posts: 408
Originally Posted by seattledave
Originally Posted by WRxB
seattledave - Yeah ex-girlfriend Long story but with what she did to me & put me through, not only should I not care but I also shouldn't even try to help her out on this. But I would love nothing more than to see her name come off the loan.
Jenna - Thanks for noticing that & proving there are some decent respectable women out there who notice a good guy.
Jenna - Thanks for noticing that & proving there are some decent respectable women out there who notice a good guy.
Here's a sure fire way you can let her know how you can end the relationship with the car: you'll default and she'll assume the lease.
Quote from Fletch " Ohp there's (nameless), boy won't she be surprised"
#8
Pretty much covers it, she's SOL. You do not want to refiance a depreciating asset, it's not worth it.
message to her: Sorry toots, you're on it, get over it, and don't say anything else about it unless you want a repo on your credit. Now get on getting on, and don't let the door hit you on the way out.
message to her: Sorry toots, you're on it, get over it, and don't say anything else about it unless you want a repo on your credit. Now get on getting on, and don't let the door hit you on the way out.
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