What do I need to do to get a car in my name that I want to buy from a person that has not made all payments?

Question

I can not find a loan so that i can take over the payments of a car. I want to buy this car from this person and I dont know what to do? The person just got the car and has only made about 3 payments on it. I dont have the money to pay it off but I can take over the payments what can I do to get it out of his name and into my name. what can he do to get it into my name

Answer 1

the  car  has  to have a  clear title  and no leins,so it  must be paid off before its transfered or  sold,

Answer 2

You either have to have enough cash to buy it or financing in place at a bank or credit union. There is no taking over the payments. It must be put in your name. If you made all the payments and did not have your name on the loan and vehicle paperwork, the other person would have a free car that you paid for and there would be nothing you could do.

Answer 3

You need to get a loan to pay off his loan, and then repay the loan you took out.  That is the very best way to do this.

Answer 4

If you cannot get financing in your own name, or with a cosigner, you really have no business driving a car. There is no such thing as "taking over someone's payments". The bank would have to put you on the loan. Any thing else is illegal in most states.

Try the special finance department of your local import dealer. I f they can't get you driving, no one can

Answer 5

you are going into dangerous territory. For instance they might suggest that you make thier payments and you drive the car,,even though it is in thier name. Then when its all paid off they will transfer title to you.

My experience as a loan officer is that in such arrangements the 3rd party has gotten screwed. once the loan is paid off they keep the car. After all they are the ones who have title.