Im financing a car is it possable for somebody to take over the payments if they want to buy the car from me?

Question:


Answers:

Comparison between cars?

Yeah, but the bank or car lot who you financed it through has to approve to make it legal

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Did I get robbed?

Yes, the buyer can take over payments. However, get approval from the finance company. They HAVE TO approve your buyer. I have done this before.

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1997 Pontiac Grand Prix SE, 161,000 miles, $1950. Should I buy?

It depends on your finance company and how you and the buyer are willing to work it. Your finance company may be happy to switch the loan into someone else's name depending on their credit score and income. If they won't, you could have a contract for title. The loan would stay in your name but the new owner would make the payments. You would still be responsible to the loan company but you would be able to take the new owner to court for nonpayment. After the new owner pays off the car, you would sign the title over to him.

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2007 Infiniti G35 or 2007 BMW 330i?

Only if your finance company agrees. You don't want anything left in your name, or it will be your responsibility.

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