Hi all! I know this might sound really dumb but any advice is welcome.
I’ve been driving my mom’s car for a few years. They’ve always been under her name. And she usually takes care of the payments.
I’ve always offered to help with payments but she said no thank you as a way to help me start my life + save money. There’s about 20k left on the car.
She now can no longer handle the payments and asked me to take them on. She says I have to get a loan to buy out her original loan as she can’t change the original loan’s name to me. She also said I could possibly get a better interest rate with my credit score when taking out this new loan.
I just want to ask: is this the only way? I’m willing and eager to help her out but I want to know all the options. Thank you.
