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ARE u financing a car?you can help me answering this question

hubby is financing his car,he has bad credit so when he was getting the car he had his mom co signing with him,we werent married yet
i want to add my name so i can build my credit is that possible?or does he have to trade in his truck?what can i do to add my name,who can i call>

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Anonymous

Asked by Anonymous at 11:44 PM on Dec. 20, 2009 in About CafeMom

Answers (4)
  • I think with a hubby with bad credit, and a mother that is co-signing you can find better ways to build your credit. Go to a furniture store, buy something small, pay on time, and have that show on your credit. Put bills in your name and pay on time. Mortgage brokers look at those month to month bills too. If he has bad credit don't get on credit cards, bank accounts if he has a bounced check record. Be VERY careful of you getting credit cards, he puts stuff on it and PROMISES to pay. You could end up with BAD credit, instead of non existant credit. BE CAREFUL!!!!
    SEEKEROFSHELLS

    Answer by SEEKEROFSHELLS at 11:50 PM on Dec. 20, 2009

  • It isn't possible to add you to the loan after it has gone through. It is possible to add you to the car title after it is free & clear, but not to the loan.
    The best thing you can do to build credit is go to Kohls or JCPenney and apply for their card. Spend $20 - $50 every month (regardless of your limit) and pay it off every month. NEVER go to your credit limit.
    When applying for loans in the future, lenders (mortgage companies) and auto lenders will look at your revolving credit, what your available balances are, and payment history. ALWAYS pay on time! Lenders don't look at utilities or rent to own places. Only if they go to collections for delinquency and then it is negative credit.
    If you do this, you will build credit in no time! After a few months of a store card, apply for a major card and only use it for gas every month (or whatever) and pay it OFF every month. You will have 750 credit scores before you know it!
    RutterMama

    Answer by RutterMama at 12:05 AM on Dec. 21, 2009

  • You can't add your name because you are not a part of the loan itself. Get a credit card, and build your own credit.
    truealaskanmom

    Answer by truealaskanmom at 12:37 AM on Dec. 21, 2009

  • If you need a car now, buy an older car that you can pay cash for. If you don't need it now, save your money until you can pay cash for the car.
    rkoloms

    Answer by rkoloms at 9:20 AM on Dec. 21, 2009

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