Hmm... I've been thinking about selling my car and another forum user asked if I could transfer the MMCA loan (0%) over to them. I called and was told that this was not possible. I figured this was the case but thought I'd ask anyway. The forum member then sent me this link:
http://mitsubishicars.com/MMNA/jsp/owners/loanfaq4.do
After reading this, I called again and even had them take a look. They again responded that this is not possible. What do you guys think? That verbiage seems to state that it is .

 

Sounds to me like you can. Says it plain as day.

 

I know! That's what's weird... I spoke called two different times and they even spoke with two different supervisors and they all said no. Yet, plain as day on that webpage. I'll try calling again tomorrow but if not, oh well. I'm not a big rush to sell anyway . I've just been thinking about picking up a BIG truck to go off-roading

 

I don't see anything on the webpage - maybe I'm not seeing it. I do see that the new owner has to submit a new application though. It wouldn't make sense if people just paid people with great credit to then transfer the 0% to someone else with horrid credit; seems like too much room for abuse.

 

If it is really stated as it is, as long as buyer's application is submitted he should be able to continue paying off your car; however, not at 0%. He needs to be qualified. I am pretty sure you asked MMCA that you want the buyer to continue the payment with 0%, and it is not possible. They need to run a credit check first.

 

Actually, I didn't mention the 0%, I just asked if it's possible to, as stated on the webpage, transfer posession. Either way, it's not a big deal, I just don't like the lack of clear statements from a credit institution...

 

What was said above. Transferable ONLY with an approved app by the new buyer.

 

Mods: Please close this thread.
After reading this:
http://mitsubishicars.com/MMNA/jsp/owners/loanfaq9.do
There's no way I'd go through with it...