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Can someone take over your car loan?


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Wiki User
2015-07-15 18:26:13
2015-07-15 18:26:13

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.


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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.

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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.

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Yes. You need to discuss this with the lender.

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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.

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

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