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Can you transfer a car loan to your name if you put all the money down on it?


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Wiki User
2015-07-15 18:39:14
2015-07-15 18:39:14

No. The easiest thing to do would be to buy the car from the existing owner and get a new loan.

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The lender is only attempting to protect his interest. If you have not established credit to the point that the lender can feel that the loan is secure he will probably not be willing to transfer the loan.

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The loan must be paid off first so the lender will release the title.

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It is not really hard to do a Western Union money transfer. All you have to do is fill out the form, write down the name of the person, their location, and how much money you want to sent. Be prepared to pay transfer fees. Once that is done, send the control number to the recipient of the person you sent money to. He or she will then pick it up.

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The loan must either be paid off at which point the bank sends the title slip to the "owner" or the bank agrees to transfer the loan to someone else's name (the new buyer).

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did you get an answer to your question about getting a loan with a signed title? i am in the same boat... ~Becky You might be in a bind. Is there somewhere else you can get money for the title transfer fee, like borrowing from a friend? Once the title is in your name you won't have this problem in the future. The best thing to do is to try to put some money aside for emergencies so you're not stuck getting high interest loans. It's expensive to be broke with all those loan companies gouging you.


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