Hi! A year ago when I purchased a new vehicle I put my fiance on the loan as a co-borrower to help out her credit. I am now in the process of refinancing, but she currently has no income, so she would make the rate higher now, so I am leaving her off of the new loan. The question is...... will the payoff to the current bank show on her credit report as a payoff and look as though the car was simply paid for and not refinanced? Not sure how that would look on the credit report or affect her score... any info is appreciated!
Will an auto loan refinance show as a payoff on credit report?
I agree with Jay, he is correct.
And-You probably do not want to do busines with Mrs Wall.
Will an auto loan refinance show as a payoff on credit report?
yes it will show up as a payoff. As far as the bank is concerned, the loan has been satisfied and there is no more liability on your part.
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