I have a close friend that is financeing a car.. and now wants to switch over to my name how can we do it?

Question

we want to have it refinance it in my name.. where would we go to have it done..?? how would i fine a finace company..?

Answer 1

First try your local banker. Otherwise, call around to the credit unions in your area. They often have better rates than banks. You'll need to both go together, and bring your ID's & social security numbers to get the financing paperwork done. Hope that helps!

Answer 2

I assume that you will own & drive the car & not help him out just with the finance. Go on yahoo search and put finance or loans in the search engine but make sure that his finance is paid off fully or you could lose the car & still have to pay your finance off

Answer 3

Try your bank.
Try other banks near you
Try www.lendingtree.com

Bascially you just need to apply to banking institutions would loan you the money to pay off the car. Careful here though because if you just purchased the car with no money down and you financed the tax and registration you would be doing it again just to transfer the car to your name. In other words you don't want to have to loan more money because you need to pay off his tax and registration that he financed with the original loan and the tax and registration you will have to pay for buying the car.

Answer 4

S/he will have to sell the car to you. If you finance a car for a friend to use & pay for; you can be pretty certain that you will lose the car, the friend & your credit rating when s/he defaults on the payments.

Answer 5

you need to buy the car no bank will let you just have a loan like that

Answer 6

I don't know if they will just switch it over. You might have to purchase it to get it in your name.

Answer 7

warn him