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Can you get finance on a car in one persons name then transfer into anothers?

Is this not fraud?
Thanks all for the responses. I am aware that this has happened 11 times so far by this particular person. Its very wrong – how can people get away with it!
To confirm none of the finance companies are aware of the change of ownership with the DVLA.

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6 Responses to “Can you get finance on a car in one persons name then transfer into anothers?”

  1. knowitall said:

    NO.

  2. Age of Reason said:

    No since the Dept of Motor Vehicle will not transfer ownership to another as long as you owe a lender

  3. Helen said:

    The lender may agree to transfer the current finance agreement to someone else – if that someone else meets the companies criteria .

    This would , if it were found to be acceptable to the finance company , probably only incur an administration fee .

  4. starlight said:

    no you cant do this unless the car has been fully paid for

  5. STEVEN F said:

    The auto loan has a payable on sale clause. That means the loan is due in full if the title is transferred. It is also impossible to transfer the title unless the lender releases the lien recorded on the title.

  6. Victor said:

    Financed cars is more expensive to insurance cause it requires full coverage. You can compare how much you would pay for full coverage of this car using this tool – carquotes.sinfree.net




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