Tranferring Car Finance

andyterry84

HI Guys,

I have a car which is half way through (well it 3/5 through in june) its finance agreement, i have been asked by a colleague if she can take over the payments of the car as im looking to hand it back in, and rather than go through the hassel of trying to hand it back in, i would rather do this.

what the steps i need to do this, and is it even legal as i cannot find nothing on the internet to say it is.

any advice would be great.

Andy

Just need some advice

harveybobbles

Well for a start the car doesnt belong to you until the finace is paid/completed.

The only way around it would be for you to get a settlement figure and get your collugue to get a loan or some sort or pay it off outright.

andyterry84

I meant contacting the finance company and transferring it to them
.