Finance Q&A - Change/Amend Finance

Can I change the name on my car finance?

Can I change the name on my car finance? I'm moving to Thailand in April of next year and one of my friends wants to take the car off my hands.

James Crossley

Answer from the Stoneacre finance team:

Hi James, thanks for asking.

Unfortunately, you won't be able to swap names on your car finance agreement because it was originally made in your name and based on your credit profile and personal circumstances.

If your friend is interested in the car then they can purchase the car from you once any outstanding finance has been settled and you have attained full ownership of the car.

An option would be to speak to your finance company and ask them for the settlement figure so the finance can be fully paid off, however you may be subject to early repayment and administration fees if you do this.

Hope this helps you James.