Quote:
Originally Posted by DeanOMac
- Sister is underwater on the car right now and still owes on the loan she took from the dealer to buy it in the first place
- Sister couldn't afford payments anymore and my girlfriend needed a car, so to avoid defaulting it was agreed my girlfriend would drive the car and make the payments to her sister in the meantime and the loan would remain in her sister's name.
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someone can correct me if I'm wrong, but if the car is collateral for the original loan, and your gf "bought" the car with a lien on it, your gf will be held responsible for the loan if the sister ever defaults.
I realize that this situation is a bit different, but I've always done lien checks on used vehicles for that reason.