How do I transfer my car loan to someone else and have them take over the payments?

Question:
I have decent credit and I basically need out of a loan I have. I have heard that people interested could take out their own loan and purchase the car but I was hoping that there may be a way to just sign the loan over and have someone take over the payments of the vehicle. Any advice?

Answers:

How do trade-ins work while money is still owed on a car?

They have to take out a personal loan seperate to your own. They then transfer the funds over to your loan & make the repayments themselves. Ususally though, the car will be needed as security for the loan so it may proove difficult especially as the car would already be security for your loan. It cannot be security for two seperate loans.

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How i know the particular car has a small engine?

if they take out there own loan it will mean the payments will be spread out over a longer period mean lesser payments. not sure how you would go about tranfering a loan though.

Cousin wants me to take over his car payments.. options? Help pls!?

my opion would be it is easier to get them totake out loan and pay yours off, that way your clear and so is your credit rating.

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Whats the best deal?

They can't take over your loan.

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How much could I sell my Chevy Logo for?

I give loan to loan seekers.I am a private lender,i am the ownert of LEXIGTON LOAN COMPANY.If you are intrestedin getting aloan you can contact us through this email address lexigtonloan4all@yahoo.com.We will be very ready to assist you with the loan amount.
Mr Jerry Peters.

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Good First Car? (10k budget)?

First you must consult with the financial institution to see if the other party can resume or take over the payments for the vehical in question

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