I currently have some school debt and 2 cars in my name. Great credit, just that stuff makes my debt to income off a little bit. I've got a 2004 TL and 2005 Jeep GC Limited. I sold the TL to my mom's business about 1 year ago, though we kept it in my name for the time being. She had just bought a third business and was really busy moving stores, setting up shop, etc. So we left the TL in my name because she we were too busy to deal with that stuff back then. The Jeep will become my girlfriends in May, and go into her name. She'll be giving me some cash from equity I rolled into it from my Colorado trade-in, and that will be used towards debt.

So, in 2 months I'll be buying a new car, and wanted the best rate, so I asked my mom to get the TL in her name. How quickly will me credit report update. I've got over a 700 score, but would think that with debt paid off and 2 cars out of my name, it should increase. What do you guys think. 1 week? 1 month? Shorter/Longer?

 

When you say you are changing the vehicles to your mom and gf's name, you mean they are giving you the cash to pay off the loans? Because it doesn't really matter to the credit agencies who owns the title. It matters whose name is on the loan.

If you are paying off the loans, then it can take upto about a month after the gilling cycle after you payed off the loan. I could be wrong, but that's my interpretation of how it's done.

 

They will be "buying" the car from me, and getting their own financing.

 

If you pull your credit report you will see the last time that each lender updated it. They usually do it once a month.