Can i transfer my car loan to my friend who is going to buy over my car?

Sell Car 24/09/2016 81 Views

1 Answer

Admin

Nope, you are unable to do any transfer of the car loan to any individual.

If you are intending to sell your car to your friend, there are a couple of solutions you can do it. The most straightforward way is to pay up the remaining amount of the loan in full, while your friend take up another loan if he require.

Do take note that early repayment may result in an interest result that is calculated based on the "Rule of 78" formula. Early repayment may also result in penalties or fees.

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