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

You will not save any. As long as the owner of the car signs the note and security agreement as providing collateral only It does put the car at risk in the case of default though.

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If your name isnt on the cars title even if youre the primary driver youre not the owner and cant trade in the vehicle.

. For trade-in both old and new vehicle need to be under the same name. Doing this is fraud. Please note if the general guidelines above for further details.

Cars Trucks and SUVs. However the owner can. Can you take out a loan in someone elses name.

Ad Get Instantly Matched With Your Ideal Car Finance Option. You can put the insurance in someone elses name but you would need to be listed on the policy. If the new vehicle will be registered under your name.

Title being in their name means its legally theirs. They just let you drive it. I want to get rid of it now that Im no longer upside.

Jan 20th 2010 646 pm. You now have 2000 of equity you can apply directly to the purchase of your next car. If your family member is willing to take over the.

So basically Im driving maintaining and paying for a car that is in someone elses name and registered in a different state. Ad Get Pre-Approved To See Your Real Terms For Every Vehicle. Ad Get Pre-Approved To See Your Real Terms For Every Vehicle.

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 youre looking to buy a car to. Trading In Someone Elses Car.

You can actually sell a car that is under finance. In this instance you may buy a car for someone as a gift or purchase the vehicle for them under a loan agreement. If you are financing a vehicle you need to have it registered in your name.

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. Trading in a car not in my name. The title of the vehicle can still be registered under both your name and the recipients.

Given the fact that you claim. Its going to be difficult to find a lender that is going to be willing to roll a lot of negative equity into a new loan. Since you cant sell what you dont own you need to either transfer it.

Trading in a car with positive equity. Compromised credit can make buying a car difficult. No in general you cannot take out a loan in someone elses name.

You wish to trade in your parents car. This can only be done by selling. Modify the Loan with Your Existing Lender.

When you do this you must be careful about whose name. 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. This is illegal BUT it happens frequently.

While refinancing a car loan can remove a cosigner or co-borrower you cant refinance the car in someone elses name and remove your name from the title. How to Refinance an Auto under Another Persons Name. Say you owe 5000 on your car and its worth 7000 as a trade-in.

Compare Apply Today. Answer 1 of 6. Instead you could cosign a loan with.

Most dealers require any titled co-owners to. While refinancing a car loan can remove a cosigner or co-borrower you cant refinance the car in someone elses name and remove your name from the title. There are two primary ways to refinance or transfer a car loan to another person.

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