Download Can You Transfer A Car Loan To Someone Else Background. If someone else obtained a car loan for you then their name should be on the title to the car with yours. This means you can rest easy about not having to make payments on a car you no longer own.
When you transfer your car loan to someone else, you free yourself of any remaining payments so that you no longer have the responsibility of making the payments and you can focus on purchasing a new car under another loan or taking a break from your obligation completely for a while.
You can have your brother take over your loan unofficially (shhhhh don't tell the bank). If you want to transfer your car loan to someone else, you have a couple of options to choose from. The new owner needs to refinance your current loan, and, at the same time, get the title transferred so it's in their name. This means you can rest easy about not having to make payments on a car you no longer own.