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Can you assume another person’s car loan?

Would it be possible for me to assume a car loan for my mother? I've been sending her money to make payments, but there have been a few hiccups with electronic transfers. If possible, I'd like to assume the loan myself and then sign over the title once it's paid off.

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Liz Jenson · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
It’s nice of you to take such good care of your mother! Luckily, you can assume her car loan if the lender allows it.
In terms of car loans, assuming the loan is equivalent to buying the car. Contact your mother’s lender, and ask the lender if they allow loans to be assumed by new buyers. If they do, the lender will run a credit check and look into your debt to income ratio before approving you as a buyer.
If they don’t let you assume it, you can refinance her loan with help from a third party. Just take out a loan, give her the money to pay off the car, and then pay off your own loan.
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