Legal Question in Consumer Law in Illinois
Vehical Financing Changes
I am wondering if there are any satutes or proccesses in relation to changing the primary person on a car loan.
Asked on 1/10/03, 10:38 am
1 Answer from Attorneys
Thaddeus Hunt
Law Offices of Thaddeus Hunt
Re: Vehical Financing Changes
There are not really any statutes that apply to your situation. If you are trying to sell your car and assign the loan you need to look at the loan documentation when you purchased the car. There is usually a provision for assignment of the loan.
If you are not allowed, then the buyer will have to find his or her own source of financing.
Very truly yours,
Thaddeus Hunt, Esq.
Answered on 1/13/03, 10:02 am
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