Can you get an auto loan for a car that a friend owns and wants to sell?

[johndeere2510]

I own a car and paid it off using my credit card.  I want to see if my fiance can get a loan for a used car for my car so that we can pay off some of the money owed to the credit card. Will banks do financing for this since no one is buying a car from dealership?  I have taken out a personal loan for a car in the past, but that was only when I needed about $2,000. I'm trying to improve my credit now before getting married and buying a house and he suggested this.



Thanks

[YeshThatsMe]

Yes, you can go to the bank of your preference.  I think for this amount of money you could go to the credit union.  Banks will issue you a credit card.

[one_nastyned]

There are many auto loan options available today. Today, stiff competition among auto loan financing companiesfinance option. You can apply for online car loans on the Internet, or get it from your car dealer.

[more]

The best option I know for this scenario are credit unions. If you belong to a credit union they can easily finance a loan for you, also the credit unions interest rates are usually cheaper than regular banks. If you don not have a credit union you can find a family member that has one either from their employers or from the military, and join under them.

[OILiberalsNO]

Ok,



1. Yes you may have title to the car, but you still owe the bank the money. Check your interest rate on that card.



2. I would not lend money to anyone including a finance. Wait till your married. If he has no money or bad credit you need to ask what happened.



3. You are liable for all premarital debts, and own the assets.



4. Taking out a loan while trying to get rid of debt is not a good strategy. Just pay down the debt.



Good Luck!

[DeelmanJ]

Probably best to have a rest.looks like you can get some ideas here.http://carloan.featured-resources.info/bad-car-credit-loan-used-virginia.html