Dear Terry,
My fiance has bad credit, but I have excellent credit. He wants to buy a truck, but it will take months to fix his credit report and receive a low interest rate. Should I take an auto loan in my name, and assign him the title of the truck? Is this even possible to do?


Heather

Dear Heather,
Do not, under any circumstances, take out a loan to buy your fiance a vehicle. Until you’re married and have some legal ties that bind you together, he could back out of the marriage, disappear with the truck and leave you holding a large loan.

Maybe he’s not such a cad and wouldn’t do that, but too many people in your situation have had bad experiences. Once you are husband and wife, buy him a truck as a wedding present if you want.

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