QUESTION

I want to take over a friend car loan payment is it a good idea? If so, what are the steps? or is it best for me to get my own car loan?

Asked on Mar 12th, 2022 on Debtor and Creditor - Connecticut
More details to this question:
my friend finances a car and would like for me to take over the payments. it's a good idea?
Report Abuse

1 ANSWER

Personal Injury Attorney serving Stratford, CT
4 Awards
It sounds sketchy.  You might want to consider getting your own loan.  And never co-sign for someone else on a loan unless you dont care about your credit score and the liability that comes with defaulting on a loan.  Having seen your scenario many times before, I can already tell you that when this goes wrong, its because the actual debtor doesn't make the payments (despite your paying him), he defaults on the loan, the car gets repoed, and you have no recourse.  Don't do it.
Answered on Mar 14th, 2022 at 6:12 AM

Information provided doesn't create an attorney/client privilege nor constitute an offer of services and is only general responses to hypotheticals

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters