Miguel asked in Business & FinanceCredit · 4 weeks ago

Can I transfer the auto loan to someone else because I still ow money to the bank and I do not want to deal Payment no more ?

5 Answers

  • DON W
    Lv 7
    4 weeks ago
    Favorite Answer

    No.  It would require the approval of the bank and they won't approve a transfer.  

  • Judy
    Lv 7
    4 weeks ago


  • 4 weeks ago

    With approval from the bank.  Basically, they would write another loan to pay off the current one...so if your friend has good credit, theoretically, they could do this. If they get a loan on their own, they could buy the car from you.  

    However, they dont do this, it isnt offered.  There isnt any benefit to them to transfer this to another person...

  • 4 weeks ago

    No without the permission of the lien holder and you will probably not get that.

    You can offer it for sale for what you owe on it of course and get out from under it.

  • How do you think about the answers? You can sign in to vote the answer.
  • Scott
    Lv 6
    4 weeks ago

    No. Loans aren't transferred. You would have to sell your car to someone and use the proceeds to pay off your loan in full. The buyer would either have to have cash or arrange their own financing.

Still have questions? Get your answers by asking now.