can i have someone take over my car loan

Best answer


To allow a friend to take over your car loan payments means a lot more than it sounds. No financial institution will let someone put a car’s title in their name and make the payments because the lender partly owns that car. If someone wanted to own the vehicle and be named on the title,they would have to apply for financing independently.

People also ask


  • Can a friend take over my car loan payments?

  • To allow a friend to take over your car loan payments means a lot more than it sounds. No financial institution will let someone put a car’s title in their name and make the payments because the lender partly owns that car. If someone wanted to own the vehicle and be named on the title, they would have to apply for financing independently.

  • Can I take over an auto loan from the original owner?

  • Taking over auto loans can be tricky business, and largely depends on the bank or other financing company from which the original owner obtained the loan.

  • How can I legally take over someone’s car payments?

  • How Can I Legally Take Over Someone’s Car Payments? One way to obtain a car at a low price is to take on the obligations of another driver. This can be done by taking over someone else’s lease or purchasing the car outright by taking over the loan payments.

  • How can I legally transfer my car loan to someone else?

  • Beyond transferring your existing loan to another party, there are several other ways to legally transfer, reduce, or eliminate your existing loan in a tight situation. The easiest way to get rid of your existing loan payments is to sell your car. This is also a roundabout way of ultimately handing off your monthly payments to someone else.

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