If your name is on the title
no
Yes, you can take out a loan for a vehicle for someone else and make the payments on it, but the only way you can put the vehicle in their name is if you have their permission.
Is the loan or the registration in someone elses name??If loan is someone elses name their credit takes the hit there is nothing you can do.If the registration is in someone elses name then they are fine.Hope this helps.
Banks will allow deposits into members' accounts. Get your loan then carry the money to their bank if the payday loan people won't do a direct deposit.
It makes no difference whose name appears on the loan, the vehicle can only be registered in the name of the person named on the title.
Not LegallyUnlessYou are married
You pay the balance of the unpaid loan to the bank, request a release of title to the estate of the deceased person, purchase the vehicle from the estate for at least one dollar, do a transfer of title to your name, and register the vehicle.Anything less or different may result in the repossession of the vehicle.
Yes, but in most cases the title will not be released by the original lien holder until the original loan contract is paid in full. In some states, the second party puyer may be able to register the vehicle in his name even. In some states, you may be required to obtain the permission of the original lender to sell the vehicle.
Is the bank really going to agree??
Other than Paying off the loan, you DONT. Charge-off is an accounting term to explain why the lender didnt make any profit on the loan. As long as the vehicle is collateral for a loan, you dont get clear title.
If the loan is not paid off at the time of the death, the vehicle belongs to the lienholder until the vehicle is paid off.
Try to make him pay off his loan or you will have to pay it off cuz you cant register it. I know you can junk or sell a car with a loan on it. So i would take him to cort for fraud.