Ask MetaFilter questions tagged with loans and car

Prepare me for applying for an auto loan!

thatbrunette — Sun, 01 Mar 2009 13:00:34 -0800

I'm a student, looking to take out a first time auto loan for a car. I want a used car, and would like to spend no more than $3,000. My credit is alright, not stellar, and I have student loans. What can I expect in this process, and how can I better my chances of getting a loan? I'm going to apply through USAA. One thing to note is that I bank through USAA for the most part; however they don't have any local branches. Therefore I deposit my work checks in a Wells Fargo branch (I have an account with them as well), then transfer the money to my USAA account. So that balance fluctuates pretty heavily. Will this impact me negatively? For example, the current balance in my USAA account is very small, about $100, but I have a little more than 2.5k in my Wells Fargo account. Or is all of this negligible and they only base loans on credit score? I really need a car, and I'm hoping this works out.

Please help me reclaim my car.

otis24 — Fri, 20 Feb 2009 19:53:49 -0800

How do I get my car back? It's still in my ex'es name. I've been giving her $$ for insurance and have been making the payments on it since 2003. I live across the country now and she ignores all my requests to do anything about transferring the title/policy, etc. Here's the situation:
Back in 2003, my then girlfriend leased a 2003 Honda Civic for me (this is in CT). The car was in her name because my credit was really bad. This car is and was always intended to be mine (it's a manual; she doesn't even know how to drive stick). I drove the car for several years and I always made the lease payments, as well as the maintenance and insurance payments (which is in her name; I am listed on her plan). When we broke up, around 2005, we never really officially talked about what would happen with the car. I continued to make the payments, sending Honda checks to Honda, and insurance checks to my ex. I have the account numbers, but no access to the account information.

When we knew the lease was about to expire, my ex offered to 'purchase' the car in her name, but I would continue to own/use/pay for it. It had really low miles and seemed like a good deal. We went down and filled out the paperwork, which I have. The insurance policy remained the same; in her name, but I am listed on it.

Six months later, in 2008, I moved across the country, to California. I quickly settled in with a good job and girlfriend. I drive 100 miles/day for work. I never intended to drive this much, but all is good otherwise. However, my car is not registered in CA (it is current in CT). I also do not technically own this car. Nor do I even know how much I owe on it. I am still on good terms with the ex, but she blatantly ignores any and all attempts to get information about the car, or do what it takes to transfer ownership. To be honest, I don't even know what needs to be done, or what my best course of action is. Additionally, this situation has caused a lot of stress and worry between my girlfriend and I over the last year.

What do I need to do to get my car in my name, legally, in California?

car lease, income, and credit score

dannon205 — Sun, 16 Mar 2008 22:42:33 -0800

How much is a high income factoredd into a car lease loan decision? I want to lease a new Honda Accord. My credit isn't that great due to some missed payments back in law school and about $80K in student loan debt. Other than that I only have $4K in a car debt, but no credit card debt. My score is about 630. I make $100K/yr w/ a discretionary bonus. I'd be willing to put the 20% down (which the down payment is capped at), plus the 1st months payment and security deposit.

Does anyone know well enough how car lease companies decide whether to loan money for a lease? I understand that generally you need a pretty high credit score, but how much do they factor in income?

Car title

terrier319 — Fri, 30 Sep 2005 07:30:39 -0800

What is the proper procedure for signing over a vehicle title and ensuring a kosher, risk-free transaction. This is a long-range deal where the buyer of my car is clear across the country, so a face-to-face deal is not possible. The buyer asks for a copy of the signed-over title in order to secure financing. If I sign over the title without my money in hand, am I leaving myself open to a possible problem? Note - there is no indication whatsover to be suspicious; I just want to protect myself.