This is a really dumb question. Rates have dropped precipitously since we bought my wife's car last year, so want to get a lower rate. When it was bought, I just did it in my name. Is it possible to refinance it in my wife's name or is that considered a "sell"? And if it's a "sell", would we have to pay sales tax and registration and all that crap again? If so, it's not worth messing with. Just curious.

Trouble in paradise?

Your wife can finance it but you're going to have to "Third Party Pledge" it.

Essentially you're authorizing her to borrow money against an asset you own.

Kurt Gowdy said:

---

Your wife can finance it but you're going to have to "Third Party Pledge" it.

Essentially you're authorizing her to borrow money against an asset you own.

---

That's what I figured. Not worth messing with then. I'm just trying to add some more history to her credit file since EVERYTHING is in my name. Not that big a deal.

Quote:

---

That's what I figured. Not worth messing with then. I'm just trying to add some more history to her credit file since EVERYTHING is in my name. Not that big a deal.

---

I'm not an expert on how credit is calculated, but I think from the standpoint of purely managing credit, you do not want loans listed on both credit reports. It's a hit to you both. I always purchase houses and cars on only one spouse credit report, and always share credit cards on both.

Others with more knowledge on how to build 800+ may have more comments.