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You can take over the payments on a loan because the lending institution doesn't care who they get their money from BUT, until the car is paid in full, you have no rights to it and the responsibility for the car still is on the original purchasers credit. If you miss payments, the bank goes after him. They will not accept,,"someone else is supposed to be making the payments". You will own nothing and the original owner can simply drive the car away when it's paid for.
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∙ 10y ago
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What is a car take over payment?
This is usually a situation where someone owes money on their car, but cannot make the payments or they want to get a different car. They will offer the car up to you in exchange for you taking over the car payment. Essentially, you just take over paying what they owe and you own the car.
How do you have a person completely take over a car loan payment?
sign the title over to the person buying the car
Can you take over a car payment without going through the bank?
You must have approval from the lender in order to take over the payments on a loan.
How can you take over a car payment?
Pay someone else's note while the car is in their name. Disaster in the works. Get your own financing.
Can a repo man take your car?
if you are late 15 days on your payment they can take your car away.
What to do when someone dies and there is no estate and there is a car payment?
You could take over the car and the payment or sell the car and then pay the loan. I recently found out that the family doesn't have to pay the bills of person who died. This is an option, but the credit card companies don't want you to know this. It is the same with the car loan.
What to do when you are 8 days behind of car payment?
they'll take your $, call them.
What if you have not made a payment for 4 months on your car and you can make future payments on the car can they still take your car?
Yes. Obviously!
If you got sued and lost can they take your car that is not paid for?
No because you are going to make a payment for that car already!
If you sell a car on a verbal contract and no payment follows can i take back the car?
If you have a spare set of keys.
If your father cosigned a car loan with you and you missed a payment does he have authority to take your car?
Well, if you are under 18, he can certainly take away your keys.
Can they take my car if i lost a job and late on the payment for like 4 month?
If you haven't payed for 4 months then they certainly can take your car.
