Used Cars: Wanting to take over payments, vehicle finance, private party


Question
Can you tell me if it is possible to take over payments from a private party without having to get the car refinanced in my name?  If this is possible what is the process.  Any information would be greatly appreciated.  Thanks.

Answer
I believe this will depend on company the vehicle finance goes through... So you would have to either talk to them yourselves or get the owner... you can always make a contract that states that you will pay the owner X number of dollars (the payment amount) every month until the vehicle is paid off and then the title and car will be given to you - but that is a very risky deal - and could easily wind up in court so I dont suggest doing so... talk to the company holding the loan and see if it can't just be switched to where you pay them, or you may even be able to get refinanced at a better rate, so my best advice is to talk to them, from their you will know all your options... hope this helps!