Can I transfer my automotive loan to another person?
Asked 4 months ago
Wells Fargo Automotive Finance generally does not allow the transfer of automotive loans to another person without specific conditions. Transferring a loan typically requires the approval of the lender, as this involves evaluating the creditworthiness of the new borrower and ensuring they meet the lender's qualifications. In many cases, the original borrower may need to refinance the loan in the new borrower's name instead of a simple transfer, which may involve paying off the original loan and creating a new loan agreement with the new borrower. It is important to fully understand the implications and responsibilities associated with refinancing and potential fees involved. For detailed information regarding your specific loan and options available, it may be beneficial to refer to the current web page for contact details or additional resources related to your inquiry.
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