Taking over someone else's Finance?

[thermalp4]

Quick question guys; someone will know.

A close friend has got an 05 Ibiza Cupra on finance and wants rid of the car since he split up with his mrs.

He's got the car with SEAT finance and obviously has money outstanding.

What I wanted to know was is it possible for me to take over the finance agreement hence taking over the payments and owning the car?

 

[richibiza]

Quick question guys; someone will know.

A close friend has got an 05 Ibiza Cupra on finance and wants rid of the car since he split up with his mrs.

He's got the car with SEAT finance and obviously has money outstanding.

What I wanted to know was is it possible for me to take over the finance agreement hence taking over the payments and owning the car?

i think u can m8, my aunty did this with her sons car!

 

[thermalp4]

Well I agree but noobody I know seems to know. He's going to phone SEAT finance and find out but in the meantime I wanted to see if anyone on here knows.

It must be possible.

Only thing i'm thinking is will the agreement stay in the original person's name?

 

[richibiza]

Well I agree but noobody I know seems to know. He's going to phone SEAT finance and find out but in the meantime I wanted to see if anyone on here knows.

It must be possible.

Only thing i'm thinking is will the agreement stay in the original person's name?

dunna know m8 i can;t remember off hand wor happed with me cousian and me aunty

 

[mrcoyote]

Wouldn't an easier way be for you to get a loan out to pay off the remaining amount due on the finance agreement which is then used by your friend to clear the debt to Seat?

 

[jedi knight]

I didnt think that was possible as the contract was between your friend and the finance company and if your friend missed any payments they could pursue him or even re-claim the car, I could be wrong though.

 

[thermalp4]

Yeah suppose it would.

Just thought it would be simple for me to just take over his payments. But nothing in this world is simple.

Just didnt want to apply for a loan; but i guess you'd have to go through a loan type process anyway with SEAT to take it over?

 

[rashcupra]

i bought my car off of some1 i didnt know and he had seat finace outstanding £8000 of it!!! so he rang up seat finance found out how much he owed and when i went to buy the car i tolk a cheque payable to seat financeand £500 cash and had a really cheap buy out of it!!!! must be wary with finace as yes they can come and claim your car if payments arent payed off!!!! but also you can crack a wicked deal out of it to!#
so if i was you i would do it this way!

 

[m0rk]

better than a cheque, on the day you take ownership call SEAT finance up and pay £xxxx with your card.

That way you know they've got the money

 

[rashcupra]

cant do it that way i think only the finance holder themselves can pay it off on there card.(oterwise would of done this could be wrong tho!

i made a mistake in last post wasnt a cheque i payed it was a bankers draft payable to seat finace! this way it was useless for the person i bought the car off to try and con me out of the 8000 and it was payed off strait away!