How can I leagally have someone take over payments for my car and not go through a bank for financin

The only legal way to do it is to refinance the vehicle, but there is a way you can do it and cover yourself in the process.

Have them pay you direct, this way you can make sure the payments reach your lender on time every month.

When the loan is paid off, just sign the title and give it to them.

You also must make sure that the vehicle is insured with full coverage insurance for the rest of the loan with you listed on the policy.

How can I leagally have someone take over payments for my car and not go through a bank for financing?

You%26#039;d just be renting them your car as long as your name is on everything.

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How can I leagally have someone take over payments for my car and not go through a bank for financing?

Auto loans are not normally assumable - it could only happen with the lender%26#039;s approval. Chances are they will want your loan paid off and a new loan executed for the other party.

How can I leagally have someone take over payments for my car and not go through a bank for financing?

It would be best to sell the car outright because if you do not transfer title and just lease the car, the insurance has to be kept under your name. In the event the driver has an accident, they will go after you since the insurance is in your name. Better to be sale than sorry.