4 stars – " How do i transfer a car loan from one car to another?" Julie-Anne Hi Julie-Anne, sincere apologies for the delayed response. You can’t transfer a finance agreement from one car to another unfortunately but you can indeed swap the current BMW for a cheaper vehicle.
It is imperative that the loan agreement papers must mention that you can transfer your car loan to another individual. Else it will be difficult to do the same. Find the new borrower via car dealer. You can approach a recognized car dealer if you are struggling to find a new borrower to whom your loan can be transferred.
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While some lenders will allow you to make a car payment via credit card, most discourage the practice by charging convenience fees to offset the additional charges they face for processing such payments. A little creative financial maneuvering can help you find other ways to use credit to pay for car payments, but they require careful consideration.
You cannot transfer an auto loan contract between people. You may consider a sub-lease, in which the vehicle owner leases their rights to you in exchange for you taking possession of the vehicle and the monthly payments.
The MTO doesn’t care at all if the car has a lien, they will transfer it to your name. I did it in 2007. I know things have changed by now, but back then I thought there were many gaps in the process, that bad guys could take advantage of.
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How do I transfer my auto loan to another person? – TD Helps | TD Bank – At this time, we do not offer the option to sign your current TD Auto Loan over to another person. If you wish for another signer to take over your Loan, they have the option to refinance it by applying for a new Loan in their name to pay off the existing Loan.