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How do you take over payments?

Updated: 9/11/2023
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19y ago

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IF your credit is good enough to qualify for the loan, you and the other person will meet with the LENDER and do the paperwork. Not much different from getting your own loan. Main advantage is you may "know" the condition of the car better and possibly get a better price duw to someones unfortunate situtation.

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19y ago
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Related questions

How do you take over the payments of a vehicle?

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.


How can you take over payments?

Contact finance company


How do you have someone take over payments?

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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.


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Contact the lender and get their approval.


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You can have someone take over the payments if they meet the credit requirements of the bank you have the financing with. You might also be able to get someone that wants your car to get their own financing to pay off your 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.


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The best place to go for advice about someone taking over car payments is the local bank. They will be able to offer advice about what to do if someone is no longer able to pay their car payments.


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