Take over payments

[SIXBANGR]

Anyone ever none this? I have a new car for sale and 2 people asked. How do you go about doing it?

 

[dgreen1069]

I wouldn't do it....if they can't afford to get a loan, maybe they can't afford to make payments to you (or to your bank). I never quite understood how it would work anyway.....I'm certain your bank would not release your liability from the loan while someone else paid on it.

 

[ALXTTA 1]

Call your finance company and ask about a "transfer of equity." I believe it varies somewhat from state-to-state.