The other person would need to apply for a new loan to pay off your existing loan. You cannot simply switch the names on your loan. But check with your lender for details.

You just simply cannot switch the names on your loan.

Related Questions

Can you sell a car that has a loan attached?

Yes, you can sell a car with a loan attached. You must pay off the loan with the money you receive in order to have a clear title or you must get someone to take over your loan.

How do you sell your car and have someone take over payments?

For someone to take over the payments they must essentially get a new loan for the payoff amount in their name. This new loan will pay off your loan and will make thir payoff amount higher than yours.

Can a cosigner take over the total loan on a car?

Yes. You need to discuss this with the lender.

How can i sell a car to someone and have them take over my current payments?

they h ave to get a loan to pay off your loan and free up the title and then it will be in their name.

Can you transfer ownership of a car to someone else if it still has a lienhold on it?

Not unless they qualify to take over the loan with the bank. The bank OWNS the car.

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