With new car prices through the roof, a lot of people are turning to the used car market. And with that increase in demand, people are finding creative ways to buy and sell used vehicles, including taking over someone else’s car payments.
Taking over car payments means just what it sounds like: you take ownership of a vehicle and assume responsibility for paying off the loan associated with it. This can sound like a sweet deal, but it can also be complicated, and it’s definitely not something you should jump into without doing your homework first.
In this article, we’ll break down the process of how to take over payments on a car, highlighting the potential benefits and risks and providing a comprehensive guide to help you decide if it’s the right move for you.