selling a car...

[bryan90s]

hi ,

if lets say i want to sell my current ride..a 2 years old car. with 5 more years to go for loan repayment. what is the procedure will b like?

actually plan to sell to family member. is it possible to change the owner of the hire purchase acc? then he continue to pay for the remaining 5 years?

if i make it a personal sale to others...wats the procedures? settle loan first with finance?

 

[jethrel]

Originally posted by bryan90s@Feb 2 2005, 13:54
hi ,

if lets say i want to sell my current ride..a 2 years old car. with 5 more years to go for loan repayment. what is the procedure will b like?

actually plan to sell to family member. is it possible to change the owner of the hire purchase acc? then he continue to pay for the remaining 5 years?

if i make it a personal sale to others...wats the procedures? settle loan first with finance?

Yes, you can change but not the ownership and instead change the person who will be taking over the loan. You can practically go over to the bank that the car is being under loan and inform them this. They will have to see the person whom is taking over the loan would be elligable for the loan or not lar ... eventhough if it's family member ...

 

[bryan90s]

thanks man but how about the ownership?