say if I was going to buy someones car, and they still owed on a personal loan but they had that personal loan signed over to my name and I took over the payments…would the credit for that person “act” as if the loan was paid off as far as credit goes??? Or would he need to pay that loan off himself instead of dumping the payments on me to get the credit he wants??
not sure how this works…I have never taken a personal loan out before…
Personal loan = INTEREST out the wazoo. Run away from this transaction.
not really worried about that sense it not a big amount…
There shouldn’t be a lean on the vehicle if it’s under a personal loan. I payd off my personal loan a few months back. 14.9% interest. Fuck that noise.
is there any way to get a auto loan without going through a dealer??
yes…they have used auto loans for buying through a person not a dealer.
I’m helping him via AIM. If there is one thing that I’m good at, it’s spending money that I dont have lol.
go to a bank and get a car loan.
a personal loan has no collateral against it(no vehicle lean), hence the higher interest. i def would not take over his personal loan. if anything go get ur own and if you have good credit itll prolly be less interest than his is.
i only take personal loans on cars if they are a small amount (say like under 7 gs) and i know i am going to pay them off quickly. take out the max term to get ur monthly real low, then double or triple the payment and shell be paid in no time.
yah…sounds good.
holy shit stallmer ur interst was above 14 thats stupid high…mine isnt that high at all…and correct with a personal loan there isnt a lean on the title of the car, the question at hand is this…the person A with the car has a personal loan for the car, he wants to sell it to person B, person A took out the loan to build credit to buy a better car next time. Person B wants to take over the loan, what does Person A’s credit reflect if person B takes over the loan?
I got a personal loan @ around 6% APR, 7k, 48 mo.
Not bad at all imo 
My personal loan is the same rate as my truck loan so theyre not always higher percentages.
^^^^^ Last person who should be advising someone about loans
PJB: Professional Financial Advisor.
and you know that how?
So Ive got a couple loans. Ive still got good credit and pay my bills on time.
PJB, I hear you have been dreaming about my scrotal problems. I need one thousand dollars. You can call it a loan if you wish.
Youre better off just chopping off your scrotum and calling it a day.
PJB just sent me a PM asking if I had any pics of LKSi’s scrotum.
Very well then. I’ll pray with the monks in Thailand.