We do not guarantee that the loan terms or rates listed on this site are the best terms or lowest rates available in the market. Whatever be the reason for selling the car, you can transfer the loan using the process given below. The owner of the car returned to his home country, cancelling all the official documents. Car Loan by Banks. You must avoid visiting the RTO office or your car insurer before the approval of your loan transfer request and the issuance of necessary documents by the bank. Car Loan Interest Rates by Bank. All lending decisions are determined by the lender and we do not guarantee approval, rates or terms for any lender or loan program.
When you elect to transfer a car loan, ensure you transfer all of the car's documents as well. You can change the title holder on a car at your local DMV. There should be instructions on the back of the title for how to change the title to another name. Some titles will allow you to simply write in the new owner. Transferring a Car Loan to Another Person. If you have sold are or trying to sell your car to someone else, you may be able to transfer your loan to the buyer as well. This means you can rest easy about not having to make payments on a car you no longer own. In short, it's not technically possible to transfer a single auto loan from one person to another. There are ways to achieve a similar outcome but by in large, it is recommended that .
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