Taking Over Some One Else's Car Payments

loveandlight

Does anyone know if there is a company out there where you agree to take over someone else's car payments every month without the actual finance for the car appearing on your own credit file? Obviously if you don't pay then you will be in breach of contract and lose the car.

I have a clean credit file and need a new car but don't want the finance for it appearing on my credit file.

Thanks.

Kilty_2

loveandlight wrote: »

I have a clean credit file and need a new car but don't want the finance for it appearing on my credit file.

Thanks.

Why not?

Planning on defaulting on it?

In answer to your question - no, that's not possible

loveandlight

I know there are companies who do offer this kind of an arrangment so am hoping someone else will remember. Otherwise I'll have to do some more research myself and I'm just too busy working at the moment.

forgotmyname

If anything happens to the car & the insurance take an interest who owns the car?

Insuring a car thats not legally yours (and it wont be as the finance is in someone elses name) can be a bit dearer and most online quote systems wont do it.

Sounds a bit strange that you have a perfect credit score and dont want a loan to be on it which only helps to raise your credit worthyness.

loveandlight

I've found one of the companies I was looking for so don't need to look for the info on here anymore.

Happy days!

Kilty_2

Care to name this company?

I'd love to be able to default on a car loan without the consequences!!