can you trade in a financed car under someone else's name

Instead you could cosign a loan with the other person. Answer 1 of 9.

Can I Get Out Of A Car Loan Without Ruining My Credit Experian

No in general you cannot take out a loan in someone elses name.

. So basically Im driving maintaining and paying for a car that is in someone elses name and registered in a different state. Please note if the general guidelines above for further details. Jan 20th 2010 646 pm.

Most dealers require any titled co-owners to. Trading In Someone Elses Car. Yes but keep in mind that if you still owe a great deal on the loan which is likely if you recently bought the car that negative equity will.

When you do this you must be careful about whose name remains on the title. If the original car loan was paid in full as part of the trade-in and there was no money left over you may have a technical claim against. Once you own it its.

In this instance you may buy a car for someone as a gift or purchase the vehicle for them under a loan agreement. The lender can then remove the. Can you take out a loan in someone elses name.

That is either fraud or theft or both. If your name isnt on the cars title even if youre the primary driver youre not the owner and cant trade in the vehicle. You wish to trade in your parents car.

The title of the vehicle can still be registered under both your name and the recipients. If you are applying for finance on behalf of someone else and you do not intend to be the primary user of the vehicle you will be lying to the finance company and that is. If your name is not on the loan or the title you are a borrower and have.

Given the fact that you claim not to have high scores you are probably looking at an extreme interest rate anyway. You can actually sell a car that is under finance. For trade-in both old and new vehicle need to be under the same name.

You do not have to let the person who has the loan on the title. I want to get rid of it now that Im no longer upside. Doing this is fraud.

You can trade in a vehicle that has your husbands name on it but he will have to sign the vehicles title to complete the trade process. If the new vehicle will be registered under your name. The person who is on the title must also register it in their.

If you put the car entirely in someone elses name you could be forfeiting. However the owner can trade in the car themselves or sell you the vehicle youve been driving. Can you Trade in a Car You Just Bought.

If you do get an offer that can cover your loan balance the dealership writes a check that gets sent to your auto lender to pay off the loan. If youre looking to buy a car to. Since you cant sell what you dont own you need to either transfer it.

Answered 5 years ago Author has 213K answers and 72M answer views. If your family member is willing to take over the. You will not save any.

As far as your car in your dads name you can use it as a. They just let you drive it. Can I Trade In A Car That Isn T In My Name Auto Credit Express Can Someone Take Over My Car Loan Can You.

Title being in their name means its legally theirs. This is illegal BUT it happens frequently. Can you trade in a financed car under someone elses name.

In certain cases you may have a power of attorney for another person and can. You can have someone else finance your car for you. Compromised credit can make buying a car difficult.

Can I Trade In A Car With A Title Lien