Borrow money to buy a car in someone else's name

Can I borrow money in someone else's name to buy a car in my name?

Buy a car in your name, and then give you a loan in someone else's name. As long as others are willing, they can do it, otherwise it is equal to financial fraud.

1. Because the loan is made in its own name, if the other party fails to repay the loan within the time limit, it will be liable for repayment. If there is a serious breach of contract, the name recorded on the blacklist is the lender, and the nominal lender will bear the consequences.

2. After the car is purchased, it is also registered in the name of the nominal lender. Because it is used by others, if there is a traffic accident, the owner will be found first, and he will bear legal responsibility and may be liable for compensation anyway.

Main advantages:

The direct consequence of borrowing a car to buy a car is that the owner (nominal owner) of the vehicle is inconsistent with the actual user of the vehicle. According to the binary judgment standard of "operation domination" and "operation benefit" of the responsible subject in traffic accident damage compensation, under the condition that the owner of the motor vehicle is separated from the actual user, the motor vehicle user can control the danger most effectively and directly enjoy the benefits generated by motor vehicle operation.

Can I borrow money to buy a car in someone else's name and then settle down by myself?

Legal analysis: others can borrow money to buy a car in their own name, but what needs to be known is that the relevant legal relations and legal responsibilities arising from the subsequent car purchase need to be borne by themselves.

In other words, to help others borrow money to buy a car, they need to know the following risks:

1, affecting personal credit information

Helping others borrow money is equivalent to becoming a lender in law. If the repayment record is poor and overdue in the process of subsequent repayment, it will affect your personal credit information, that is to say, if you want to make car loans, mortgages and other operations in the future, it may be affected.

2, need to bear legal responsibility.

The lender is himself, so if there is an accident in the subsequent use of the vehicle, he needs to bear certain responsibilities. Therefore, it is suggested to sign a car rental contract with a real lender, which is equivalent to the right to use a taxi. If there are related problems in the future, the renter needs to bear the corresponding responsibilities.

But in fact, in addition to the above two effects, when helping the loan, we should pay attention to the situation that others can't contact after getting the car, otherwise the car loan will have to be repaid by ourselves.

In addition, after the loan is settled, the vehicle can be released and the loan vehicle can be transferred to others.

Legal basis: Measures for the Administration of Automobile Loans

Article 23 A lender shall establish a borrower's credit rating system, prudently use external credit ratings, and determine the borrower's credit rating by combining internal ratings with external ratings. For individual borrowers, the credit rating should be determined according to their occupation, income status, repayment ability, credit record and other factors; For dealers and institutional borrowers, credit ratings should be determined according to the information reflected in their credit files, the credit status, financial status, credit records and other factors of senior managers.

Article 24 When granting auto loans, the lender shall require the borrower to provide mortgage or other effective guarantee for the purchased car. Upon examination and evaluation by the lender, it is confirmed that the borrower has good credit and can really repay the loan, and no guarantee may be provided.

Can I borrow money to buy a car in someone else's name and settle it in my name?

Of course. Vehicle settlement has nothing to do with loans. As long as your name is on the car purchase invoice, it can be settled in your name.

Related instructions

1. Hidden costs need to be known in advance: generally, this situation is easy to happen in secondary dealers. In fact, as long as consumers book a car, they should ask about the expenses included in the total price and whether there are other hidden expenses, such as new car inspection fees and delivery fees, and also pay attention to whether the loan contract is provided by the bank to avoid trouble when picking up the car.

2. Car insurance by installment: If consumers choose to buy a car by installment with a credit card, the general car dealers will ask the designated insurance company to handle the car insurance for a specified period, and consumers should pay attention to whether the car insurance price is acceptable.

3. There is no guarantee in the oral agreement: unless the consumer applies for unsecured credit loan in the bank and withdraws funds, he will go to the 4S store to buy the car in full, otherwise other forms of loans will not be able to get all the discounts for buying the car in full. At this time, car dealers often verbally promise various benefits to consumers, and the promises that don't fall on the pen are all on paper. In order to avoid problems in the future, consumers need to consider when choosing a car loan method.

Who will repay the loan for the car bought in someone else's name?

Whoever writes the name of the loan contract car is the nominal owner, and the repayment account is his. If the loan is not repaid, the car company will also hold him accountable.

What should I do if I buy a car under the guise of not paying back the loan?

If a friend borrows money to buy a car in your name, you are the lender and have the obligation to repay. After you repay the loan, you can get it back from your friends. Your friend can't pay back the loan, which is equivalent to your own loan to buy a car. There are many ways to deal with it, as follows:

1. You can negotiate with your friends and lenders to change the loan agreement. In this way, the car is yours and the subsequent loan is repaid by you;

2. Let the other party take the car back by force. Anyway, you don't drive or pay the down payment, but your credit will be affected;

If the deadline has not expired, the bank will take back the car for auction and use the proceeds from the auction to repay the remaining loan. If the auction proceeds are not enough to pay the loan amount, the relevant parties will make up for it. If the loan amount exceeds, the bank will refund the excess. Of course, if you refuse to implement it, the bank will go and be sentenced to compulsory execution;

Contact your friend and ask his attitude. If your friend has a negative attitude towards you, you can guide him.

Can I write someone else's name on the loan to buy a car? I will pay back the money.

You can't write other people's names. The owner of the car must be the lender, because the co-owners of the car are the lender and the bank during the loan period, and the registration certificate should be mortgaged by the bank. After canceling the loan with the bank, they are free to add their names, because cars are a commodity, just like real estate, and couples or others can add their names. But adding a name is a common relationship, not your own.

According to the summary of the conditions of major banks, the general conditions for mortgage car purchase are:

1. Have valid identification and full capacity for civil conduct;

2. Can provide a fixed and detailed address certificate;

3. Have a stable occupation and the ability to repay the loan principal and interest on schedule;

4. Personal social credit is good;

5. Holding a car purchase contract or agreement approved by the lender;

6. Other conditions stipulated by the Cooperation Organization.

Extended data

Mortgage car purchase process

1. Lead customers to choose cars at special dealers of banks and sign car purchase agreements or contracts;

2. The borrower applies to the loan bank for personal automobile mortgage;

3. Sign the contract with the consent of the investigation;