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How Can I Take Over A Car Finance Agreement?


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Some finance companies will allow the original borrower to novate an existing contract, some won't...

You and the seller will need to discuss options with their finance company.

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The car note was approved partially on the original buyers credit rating. The finance company may have a way of transferring the car note but a credit check on the new buyer would be carried out.

Edited by NanLaew
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bit of a messy one..tried to talk with her,seems now she wants me to pay up the car,rather than transfer it..so i think she is trying to scam me in that i pay the finance up and she dont do the transfer..

win for her big loss for me..i for sure wont pay the car to find out i cant transfer it..

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bit of a messy one..tried to talk with her,seems now she wants me to pay up the car,rather than transfer it..so i think she is trying to scam me in that i pay the finance up and she dont do the transfer..

win for her big loss for me..i for sure wont pay the car to find out i cant transfer it..

Sounds like it. Then there will be all sorts of excuses why she cannot transfer ownership. Unless it's your wife or long time live-in (and even that may not be advisable), don't go buying cars for other people when you can easily buy your own.

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well it kicked off to day..when told to change it over..got a lot of shit..was told you have the car ..pay cash 624000..thousand,then she will transfer it..

done a check on the value of the car 500000...thousand...so no way was it worth it..

so it looks like it goes back to the finance company...

do they chase for any shortfall..when taken back

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well it kicked off to day..when told to change it over..got a lot of shit..was told you have the car ..pay cash 624000..thousand,then she will transfer it..

done a check on the value of the car 500000...thousand...so no way was it worth it..

so it looks like it goes back to the finance company...

do they chase for any shortfall..when taken back

Obviously. When repossessed, it means the loan is defaulted upon and the balance of the loan is sought from the borrower. Not to talk about possible penalties... But I am not familiar with repos here.

In any case, while letting the car go back to repo, I suggest you let also the girlfriend go back to the dealer, as she seems intent on making a profit out of you. ;)

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well it kicked off to day..when told to change it over..got a lot of shit..was told you have the car ..pay cash 624000..thousand,then she will transfer it..

done a check on the value of the car 500000...thousand...so no way was it worth it..

so it looks like it goes back to the finance company...

do they chase for any shortfall..when taken back

624000 thousand? That's like 624,000,000 Baht - you are correct, definitely not worth it, no matter what it is :P

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  • 1 month later...

well it kicked off to day..when told to change it over..got a lot of shit..was told you have the car ..pay cash 624000..thousand,then she will transfer it..

done a check on the value of the car 500000...thousand...so no way was it worth it..

so it looks like it goes back to the finance company...

do they chase for any shortfall..when taken back

They chase both borrower and guarantor for about 10 years.

During that 10 years neither can own land, property, vehicles or have money in bank accounts.

Quite serious for a Thai, not really a big problem for a foreigner.

Edited by AnotherOneAmerican
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all sorted...she is keeping the car..but she did try a 50000..come see you..which would have taken the payments up to date...no way...she has to find it

I would suggest once again to let her go as well. She is clearly being dishonest and will try again if she can.

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  • 1 month later...

all sorted...she is keeping the car..but she did try a 50000..come see you..which would have taken the payments up to date...no way...she has to find it

I would suggest once again to let her go as well. She is clearly being dishonest and will try again if she can.

yes you are correct..she is gone and the car...som nam nar her

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got a call to day...car is due no have money..from what i can tell is the guarantor..her cousin works for the government..so they wont it off the books so to speak..

its still got 4 years left to pay ..so both are liable...

so thats why they wont it paid up...as of to day 576000..owing.. car is worth a lot less...

i wont be paying..

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