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Posted in Auto Loans
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sapphireturtle

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How do I get pmts to show on my credit if car is in husband's name?
Just purchased a new car. Originally it was in both of our names with him primary. I wanted to be primary but if we did that, interest rate would be 18%. Found out today that the original lender dropped the loan because of MY credit. We now have to go with a different lender in only my husband's name. My credit scores, according to CK, are 615 and 583. First...can they do that if we've already signed paperwork etc? Second...since I'll be making the payments, is there any way for it to show on my credit?

How the hell am I supposed to get better credit if no one will give me any? And no...I'm not doing secured credit lines.

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It doesn't matter what your scores are on here, lenders are not going to use them, so really you are in the dark about what your FICO scores are that the lenders use. They probably can do this even if you signed the paperwork, I would assume that they say that they can do this in the paperwork that you signed.  Now if the loan was already given and the money was released, they cannot ask for their money back all at once and cannot change the terms of the loan. Why do you feel that you are above Secured lines of credit? Secured lines of credit are the stepping stones that you will need to use in order to rebuild your credit.

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Sorry I forgot to answer your last question, no you cannot get the payments that you make to show on your credit when the loan is not in your name. Revolving accounts are much better for building credit anyway, but you would want an installment loan added to revolving lines for credit mix, but unfortunately it will be a no go with this loan.

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