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Yes, it is possible to assume an auto loan from someone else, but it typically requires the lender's approval and a formal transfer process.

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AnswerBot

5mo ago

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Related Questions

Can the primary borrower of an auto loan replace their name with someone else's for them to take over payments?

no


Can you get a auto loan but put the car in someone else name?

You can cosign but both names will be on title.


How do you get an auto loan without a license?

In general, one cannot get an auto loan without a driver's license (that loan will have been acquired fraudulently according to most auto loan contracts). A person can, however, co-sign someone else's loan without having posession of a driver's license.


If someone cosigned an auto loan can someone else take over as the cosigner a few months later?

From my experience, you would have to re-finance the suto loan with the new co-signer.


If someone cosigns your auto loan are they responsible for your other debts or only the auto loan?

Just for the auto.


If you are the primary on the car note for an auto loan you got with someone else who pays when the car is repossessed?

As the primary, you are the first one they go after.


Can a personal loan between sister be willed to someone else?

A personal loan is an asset to the estate. As such it can be willed to someone else if there is proper documentation of the loan.


How do you put your car loan in someone else's name?

You just can't place your loan in someone else's name. That other person has to get his/her own loan for the car and pay off your loan.


What kind of loan is an auto loan?

An auto loan is a secured loan. A lien on the car helps the lessen the risk for the lender.


If you have cosigned for your mom how can you get your name off of the car?

I assume you mean how do you get your name off the car LOAN! The only ways to do that would be to either pay off the loan or have your mom refinance it under just her name (or get someone else to cosign THAT loan)


What is a contract that let you rent someone else's possessions?

loan


What does it mean to have a guarantor on an auto loan?

A cosigner- someone who agreesto pay the loan if you default