Transferring Finance
 

Okay, this might be a little complicated. It is very stupid though.


I recently got a black 07 Civic Ex coupe, I pay 360 a month.
My gf recently got a white 2011 Civic Se coupe, she pays 400 a month.

I am very happy with my car, but my girlfriend, doesn't want hers anymore. She wants to continue school and she thinks paying for her car is out of the question while at school. So she wants someone to take over the finance.

I asked my brother, who is the co-sign for my car, if he was interested in taking over her loan. He said no , but he wants to take over my loan. Because he wants a black car.

I don't mind having my gf's car, its a lot newer and less KM's.

I was just going to give my brother my car without transferring loans because I was told there is a fee, and he would just continue my payments and get insurance as the primary driver.

The hard part is , how can i get my gf's car to my name. I was just going to transfer the loan to my brother but he already is a co-sign on my car. So maybe Honda won't approve him. Is there any easy way to this?

if this is a concern with StudentAid

i recall a studentaid rep saying that you're allowed to have a finance/lease of a vehicle and still receive Aid but the monthly payments can't be over X amount of $ (i think its 300 though)

if that's the concern get her to speak to financial aid first

Does your gf's loan have co-signer? You can remove your name out of your civic and have only your brother's name on the contract, then you can co-sign your gf's loan so you can be the owner and principle operator. It seems you do not have strong enough credit to obtain a loan by yourself so this is one of the option for you. Although you will need to pay the transfer fee twice....