Car Selling

How do you take over the payments of a vehicle?

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2008-05-16 03:39:40
2008-05-16 03:39:40

You must talk to the lender who has a lien on the vehicle. It is up to them if you will be allowed to take over the payments.

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it doesn't matter if the pope takes over your vehicle payments. if he stops making them, your credit is damaged and the vehicle is repossessed.


Let someone else take over the payments.


As long as the title and loan are in your name the car is yours. Any payments missed will effect your credit. Take the vehicle back, now.


Well if the original person that you co-signed with defaults on the payments and you are stuck with the payments, technically it is your vehicle and you can take the person to court and take control of the vehicle.


They will come to you for the money if they can't find him. It will be on your credit as a repo as well. As a co-signer, you sign that you will take over payments if the signer fails to make the payments.


I assume you took over the payments after the other owner missed payments. If you are caught up on all the payments then there would be no reason for them to repossess the vehicle. You need to contact the lender ASAP to make sure everything is fine. Failure to contact the lender may create a bad situation.


Contact the lender. They wil have to agree to this. After all they hold the lien to the vehicle, and legally it is their vehicle until you pay fo it.


Contact finance company


It is not a good idea. If that person does not make any payments then you are on the hook. The ownership can not be changed anyway, because it is listed as security under a registry.


NO! He is only guaranteeing the loan. He has no legal right to take the car.



You and the person wanting to take over the payments, go in a sit down with the lender who holds the note, and talk about it. The lender must agree to this for it to happen.




No. You need to report it immediately and the significant other can take over the rent payments that section 8 was providing.No. You need to report it immediately and the significant other can take over the rent payments that section 8 was providing.No. You need to report it immediately and the significant other can take over the rent payments that section 8 was providing.No. You need to report it immediately and the significant other can take over the rent payments that section 8 was providing.


It is best to have the person buy the vehicle off you straight out. Then in turn, with the money you receive from him/her you pay the remainder of the loan. It gets too complicated for someone to take over car payments and you sure don't know this person. They could well leave the country and leave you holding the bag. Good luckMarcy


Interesting question. If the person that took over the payments did not actually transfer the vehicle into his name (e.g.: you still owned it 'on paper'), unfortunately, yes. If the car was listed as an asset belonging to you, it could be seized.


Put an add in your local for sale and want adds, and advertise it as take over payments. BEWARE , there are some people who may say they will pay and wont but you will still be liable for the payments. Get the transaction in writing.


Yes, with the agreement of the finance company.


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.


Two things to consider here: First, the cosigner is an equal owner of the vehicle regardless of whether or not any payment has been made by him. This is a matter of contract law. Second, and typically in cases where payments are not current, the cosigner/co-owner can take possession of the vehicle to protect his credit if his intention is to surrender the unit or to make payments current.


Yes if his anger is due to your not making payments. Otherwise NO.


Yes, the bank has the right to repossess the vehicle if you are in arrears on payments.


who will take payments for dentures


When you take out a loan to buy a vehicle, you will be asked to make monthly payments for a certain number of years. At the end of that time you will own the vehicle. When you lease a vehicle, you make monthly payments for a certain number of years and then you give the automobile back to the dealer.



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