Trading in my mothers car....? My mother helped me purchase a car. The car is in her name, and I pay the bank note. I have tried to trade it at two different dealers. Everything says I am approved, and when we start talking details, and when they realize the car is in her name, they are insisting that she HAS to co-sign or purchase the new vehicle because her name is on the trade. Am I being scammed? I want to purchase the car, I have rebuilt my credit, I am told twice now that I have great credit, and I can do it, but once they hear about my car now, they shut me down and insist she sign too. Is this right?
My mother helped me purchase a car. The car is in her name, and I pay the bank note. I have tried to trade it at two different dealers. Everything says I am approved, and when we start talking details, and when they realize the car is in her name, they are insisting that she HAS to co-sign or purchase the new vehicle because her name is on the trade. Am I being scammed? I want to purchase the car, I have rebuilt my credit, I am told twice now that I have great credit, and I can do it, but once they hear about my car now, they shut me down and insist she sign too. Is this right?
Update, yes my mother financed the car, and it helped me a TON with rebuilding my credit for a while. What I am asking is, can I trade it in on a new vehicle, and she will sign it over to do so...but I don't want her name on the new car. She would sign it over to me, and I would buy a car, and she would be relieved of the burden.
Udate #2... She would be there when the trade happens, and she would sign over the car. However the dealer is requiring that she sign on the new car, and that is the problem I am having!!! I don't want her on the new car, only to sign over the one I am currently drving. Does she have to sign the loan on the new car? |