Payment continuation.?

Question

I have a friend and I want to continue the monthly payment of the car she finance. is it posible to put it under my name or what's the process of transfering it to me/???

Answer 1

Most, if not all, the financial institutions would not allow you to simply take over the payments and acquire the car. They would require the loan be paid in full before your friend even receives a clear title. You can make the payments (in her name), but she won't get the title which you will need in order to register and insure it in your name until it is paid in full. If you wanted to, you could have her draw up a bill of sale, stating that you bought the car on such and such a date at however much is outstanding in order to prevent her from reneging on the deal, but you can't register it in your name untl you get the title.