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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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โˆ™ 2015-07-15 18:26:13
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Q: Can someone take over your car loan?
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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.

Can a family member take your car if you signed over the title to them for a personal loan?

Yes, if you did not pay back the loan. That is what "signing over" the car is all about.

Can you sue for a car loan that you got for someone esle?

You can take them to small claims.

How do you take over payments on a car loan?

Contact the bank or finance company that holds the note on this car. They can transfer the loan to you if you qualify.

How do you have a person completely take over a car loan payment?

sign the title over to the person buying the car

If you can't make the payments on your 2004 SUV what can you do?

Renegotiate the loan with the lender. Sell the car to someone else or have them take over the payments. The very last thing you want to do is default on the loan.

One of my friends is subjected to deportation for a feloney offense and he is loaning a car for the worth of the car and he may not be able to pay the loan if deported but what happens to car loan?

In this case, the loan would still go into default unless your friend sells the car before his pending deportation or makes arrangements to transfer the loan to someone else willing to take over the payments.

How do you get out of a used car loan?

To get out of a used car loan, pay off the loan or find someone else who will do that.

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