need new car?

I have been financing a 2006 toyota corolla for about 8months now but my legs are killing me. The pain started about two months ago. I am too crunched in the drivers seat. I need to get an SUV where i fit better and my legs can be more stretched out so all of the pressure isnt on my knees. My father co-signed for my car so it is in his name but the actually car is in my name. I make the payments. My dad wants to buy my car. We just want to take my name off of the loan and put his name on. This way I am clean to get my own SUV. Is it possible to talk to the dealer and switch the names because my dad will now make the payments. Also, I am attending school in january, i had to get a loan for that, is there a chance i wont get another loan for another SUV? Please help!! I need to get rid of this car, i dont go places because it is uncomfortable to drive =(

1 Answer

Relevance
  • 1 decade ago
    Favorite Answer

    1) Don't ask the dealer, even if it is a "Toyota" loan the dealer will lie to you. You need to talk to "Toyota Finance" or whatever it is called. There should be a # on the back of your payment coupon.

    2) They probably won't let you just change the name on the loan. This is since interest rates have gone up over the last year and they would rather force your dad into a new loan with a higher interest rate.

    3) Will you be able to get a loan for a new SUV, without a doubt but the interest rate would be high. Find some credit union and join (with your school, in your community). They will probably give you a better rate. The best thing is to go into the dealer with a pre-approved loan from a credit union, and then see if the dealer will beat the rate and terms.

Still have questions? Get your answers by asking now.