Can I have someone take over the payments on my car? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Ant · 01-19-2009, 06:58 PM

I still owe $7500 on my car. In June, my Dad wants to buy my car, but he wants to take over my payments and pay me the difference between the value and what I owe on the car. I want to sell it to him. Can I transfer the payments in his name? Does there need to be a credit check? How do I go about this?

jeffny09 · 01-19-2009, 06:59 PM

um- you might be able to do so-or u could just take his money and pay it off

Inspector 17 · 01-19-2009, 07:02 PM

Hmmm, that's a different one. I understand what you want to do, but not sure you can do that and at the same time take your name completely off the car. Why not just sell it to him at what you owe ($7500) and have him get a loan for that amount (if he doesn't have the money)?

Ant · 01-19-2009, 07:13 PM

Quote:

Originally Posted by camaropete

Hmmm, that's a different one. I understand what you want to do, but not sure you can do that and at the same time take your name completely off the car. Why not just sell it to him at what you owe ($7500) and have him get a loan for that amount (if he doesn't have the money)?

Hmm, maybe I'll try that.

Mr_Draco · 01-19-2009, 09:25 PM

Just go to whoever you pay (the dealer or the bank) and tell them that you are selling the car and that he will be taking over the payments for the car. There will be a butt load of paperwork you both will have to sign transferring the payments, and title over plus you'll have to visit the tag office and fill out some paperwork there.

My parents have done it a couple times (both being a buyer and seller) and it's not hard, just a pain in the butt and requires some leg work.

01-19-2009, 06:58 PM	#1
Ant Drives: 2017 Camaro 1LT/RS (V6) Join Date: Dec 2008 Location: Long Island, NY Posts: 911	Can I have someone take over the payments on my car? I still owe $7500 on my car. In June, my Dad wants to buy my car, but he wants to take over my payments and pay me the difference between the value and what I owe on the car. I want to sell it to him. Can I transfer the payments in his name? Does there need to be a credit check? How do I go about this?

01-19-2009, 06:59 PM	#2
jeffny09 Drives: 2010 camaro Join Date: Nov 2008 Location: new york Posts: 5,618	um- you might be able to do so-or u could just take his money and pay it off __________________ top 10 reason why real men drive stick. 10. A manual transmission is the ultimate in control 9. You can use automotive jargon and not sound like a total tool 8. You can't spell "manual" without "man" 7. Manual transmissions prove you can do more than one thing at a time 6. You can't drift in an auto 5. You can't pull fancy moves in an automatic 4. You get better fuel economy with a stick 3. You’ll never look like a chump if you can drive stick 2. Manual transmission cars are faster 1. Women like a guy who is good with his hands.

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01-19-2009, 07:02 PM	#3
Inspector 17 I love crepes Drives: 2017 ZL1 NGM A10 Join Date: Oct 2008 Location: Maryland Posts: 4,955 View My Garage	Hmmm, that's a different one. I understand what you want to do, but not sure you can do that and at the same time take your name completely off the car. Why not just sell it to him at what you owe ($7500) and have him get a loan for that amount (if he doesn't have the money)?

01-19-2009, 09:25 PM	#5
Mr_Draco Drives: 2SS/RS Join Date: Sep 2008 Location: Western North Carolina Posts: 7,182	Just go to whoever you pay (the dealer or the bank) and tell them that you are selling the car and that he will be taking over the payments for the car. There will be a butt load of paperwork you both will have to sign transferring the payments, and title over plus you'll have to visit the tag office and fill out some paperwork there. My parents have done it a couple times (both being a buyer and seller) and it's not hard, just a pain in the butt and requires some leg work.