Goldenvodka 2nd Gear May 19, 2015 Share May 19, 2015 Hi, I am purchasing a car from my elder brother. Car still has loan and I am taking over the loan/instalments and full ownership of the vehicle. Is there any agents whom are experts in handling cases like that? No bankruptcy or bad loans on anyone of us. ↡ Advertisement Link to post Share on other sites More sharing options...
Shibadog Turbocharged May 19, 2015 Share May 19, 2015 Hi, I am purchasing a car from my elder brother. Car still has loan and I am taking over the loan/instalments and full ownership of the vehicle. Is there any agents whom are experts in handling cases like that? No bankruptcy or bad loans on anyone of us. I don't think u can directly take over the loan. Need to pay up in full (check prepayment penalty) and then take a new loan. I may be wrong though. maybe this can help http://connect.sgcarmart.com/ Link to post Share on other sites More sharing options...
Vid Hypersonic May 19, 2015 Share May 19, 2015 Hi, I am purchasing a car from my elder brother. Car still has loan and I am taking over the loan/instalments and full ownership of the vehicle. Is there any agents whom are experts in handling cases like that? No bankruptcy or bad loans on anyone of us. Cannot just take over loan. Since he's your brother you might as well pay him monthly. Just don't play him out 😂😂😂 Link to post Share on other sites More sharing options...
flashbang Turbocharged May 19, 2015 Share May 19, 2015 Impossible to transfer ownership of the vehicle at LTA without repaying the existing loan in full. It will be reflected in the system that the car is still on loan. I also suggest you pay your brother monthly and use the car without transferring ownership. Link to post Share on other sites More sharing options...
Hamburger Hypersonic May 19, 2015 Share May 19, 2015 this is not a motor cycle....... Link to post Share on other sites More sharing options...
13177 Supersonic May 19, 2015 Share May 19, 2015 Since he is your brother, no need to transfer ownership and just pay him monthly the remaining car loan. Save many trouble. Lol. Link to post Share on other sites More sharing options...
Coltplussport Turbocharged May 19, 2015 Share May 19, 2015 Since he is your brother, no need to transfer ownership and just pay him monthly the remaining car loan. Save many trouble. Lol. 亲兄弟, 明算账. Don't forget, a lot of conflicts all because of money issue. But I trust my siblings and for me, there won't be a need to change ownership. Wonder whats the cost involved? Link to post Share on other sites More sharing options...
F355 Turbocharged May 19, 2015 Share May 19, 2015 Contrary to what most forumers recommend , I would suggest to do a proper transfer. Its not just the monetary trust involved , but the fact that the elder brother is still the registered insured of the car, he has to take responsibility should anything happens , not to mention that if there are any traffic violations or summons , he will be the presumed offender unless he names another person as driver . 1 Link to post Share on other sites More sharing options...
Laserjet Neutral Newbie May 19, 2015 Share May 19, 2015 Many threads on car ownership transfer already. Refer to existing resources. http://www.mycarforum.com/topic/1853689-question-on-transfer-of-car-ownership/?hl=transfer http://www.mycarforum.com/topic/2670856-transfer-of-ownership/?hl=transfer http://www.mycarforum.com/topic/2693049-transferring-car-ownership-help/?hl=transfer http://www.mycarforum.com/topic/2682235-transfer-of-ownership-while-car-is-under-hire-purchase/?hl=transfer You can also contact connect.sgcarmart.com for ownership transfer services. ↡ Advertisement Link to post Share on other sites More sharing options...
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