Owner FAQs - AI My Auto's Car Payment Transfer Assistance

Getting Started

Learn how the process works and what to expect

What exactly is a car payment transfer?

A car payment transfer is when someone else takes over your monthly car payments while you're still the legal owner on the loan or lease. Think of it as giving someone permission to take your car—it's done through a permissive use contract.

We match you with a qualified buyer who wants your specific vehicle and is willing to make your monthly payments. You stay on the title and loan, but they take possession of the car, make the payments, and handle all the responsibilities—insurance, maintenance, etc. The permissive use contract legally allows them to drive and maintain your vehicle.

How does the process work from start to finish?

Step 1: Submit your vehicle information and tell us why you need to exit (takes less than 5 minutes).

Step 2: Our AI immediately starts searching for qualified buyers who want your exact car.

Step 3: Within as quickly as 24 hours, we find a match and verify their income, employment, and credit.

Step 4: We handle all the legal paperwork, insurance setup, and payment guarantees.

Step 5: You approve the match, pay just $15, and we arrange a contactless vehicle transfer.

That's it! You're free from the payments, and your credit stays protected.

How long does it typically take to find a buyer?

On average, we match owners with qualified buyers in as quickly as 24 hours. The entire process from initial consultation to handing over keys usually takes 5-7 business days.

Popular vehicles like luxury SUVs, sedans, and trucks tend to match even faster because we have a large pool of buyers actively looking for those types of vehicles.

What types of vehicles do you accept?

We work with most financed or leased vehicles, especially:

Luxury vehicles (BMW, Mercedes, Audi, Lexus, Tesla, etc.)
SUVs and crossovers
Pickup trucks
Sports cars and coupes
Popular sedans and family vehicles

Your vehicle should be in good working condition with no major damage. We accept both leases and loans with remaining terms of at least 12 months.

What if I'm already behind on payments?

We can still help! Even if you're 1-2 months behind, we can often get you matched quickly to prevent repossession.

The buyer's upfront management fee can sometimes be used to bring your account current before the transfer, protecting your credit from further damage. Time is critical though—the sooner you reach out, the more options we have to help you.

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Credit & Financial Protection

Your most important questions about protecting your credit

Will this hurt my credit score?

No! That's the whole point of our service. As long as the payments continue to be made on time (which we guarantee), your credit stays perfect.

In fact, your credit may actually improve because:

The loan stays in good standing with on-time payments
You avoid late payment marks and repossession
Your debt-to-income ratio stays healthy

This is completely different from a voluntary surrender or repo, which would tank your credit by 100+ points.

What if the buyer stops making payments?

This is where our payment guarantee comes in—and it's what sets us apart from other services.

We guarantee your payments will be made, no matter what.

If a buyer misses a payment for any reason, we step in and make the payment directly to your lender to protect your credit. The buyer is then required to return the vehicle to us, and we immediately find a new qualified buyer to take over.

You never have to worry about a missed payment showing up on your credit report. We've got your back.

Am I still legally responsible for the loan?

Yes, you remain the legal owner on the loan or lease. The financing stays in your name, which is why the payments continue to build your credit.

However, our legal contracts transfer physical possession and liability to the buyer. They're required to:

Carry full insurance with you listed as additional insured
Make all payments on time (guaranteed by us)
Maintain the vehicle properly
Follow all traffic laws and pay any tickets/violations

If anything goes wrong legally (accidents, tickets, etc.), the buyer is contractually and legally responsible, not you.

What happens when the loan is paid off?

Great question! When the final payment is made, the loan is satisfied and the lien is released.

At that point, the title is legally in your name, and you can choose to:

Sell the vehicle to the buyer for fair market value (most common)
Keep the vehicle and work out an arrangement with the buyer
Sell it on the open market and split proceeds as agreed

Most contracts include an agreed-upon buyout price at the end of the term, so everyone knows what to expect from day one. We help facilitate this final transaction to make sure it's fair for both parties.

Is my personal information safe?

Absolutely. We take data privacy very seriously and use bank-level encryption to protect your information.

We only share what's necessary for the transaction (vehicle details, payment amounts, etc.). Your Social Security number, full financial details, and personal information remain confidential.

Buyers go through a thorough verification process, but they never see your sensitive personal data.

Legal & Insurance

Understanding the legal protections and requirements

Is this legal? Will my lender allow it?

Yes, it's 100% legal. We operate within all state and federal laws.

Most loan and lease agreements allow for this type of arrangement because you're still the owner and the payments are still being made. The lender gets paid on time every month—they have no reason to object.

We handle all legal documentation and ensure everything complies with:

Your original loan/lease agreement
State vehicle transfer laws
Insurance requirements
Consumer protection regulations

We've done thousands of these transfers without any issues from lenders. As long as payments are made on time, they're happy.

What kind of legal contract is involved?

We use a comprehensive, legally binding contract that covers:

Payment obligations: Buyer agrees to make all monthly payments on time
Insurance requirements: Full coverage with you listed as additional insured
Maintenance responsibilities: Buyer must keep vehicle in good condition
Liability transfer: Buyer assumes all legal responsibility for the vehicle
Default terms: What happens if buyer fails to meet obligations
End-of-term options: How the final buyout or return is handled

The contract is reviewed by attorneys and notarized to ensure it's enforceable in your state. Both parties get a copy for their records.

How does insurance work?

The buyer is required to carry full comprehensive and collision insurance on the vehicle. Here's how it works:

Buyer gets the policy in their name and pays for it
You're listed as additional insured which means you're covered if anything happens
Your lender is listed as lienholder so the loan is protected
We verify coverage before the transfer and monitor it monthly

If the buyer's insurance ever lapses, we're notified immediately and can step in to get coverage reinstated or retrieve the vehicle.

You can cancel your current insurance once the buyer's policy is active, which saves you money immediately.

What if the buyer gets in an accident or gets tickets?

Accidents: The buyer's insurance covers all damages. Since you're listed as additional insured, you're protected. The buyer is contractually responsible for any deductibles, claims, or increases in insurance rates.

Tickets and violations: These go to the buyer, not you. Traffic cameras might initially send tickets to your address (since you're the registered owner), but the contract requires the buyer to pay all fines and points go on their driving record, not yours.

If there's ever confusion with law enforcement or ticket agencies, we provide documentation showing the buyer had possession of the vehicle at the time of the violation.

Can I get the car back if I change my mind?

Once the contract is signed and the vehicle is transferred, you can't just take it back—that would be unfair to the buyer who's making payments.

However, if your financial situation improves and you want your car back, you have options:

Buy out the buyer: Negotiate a buyout amount to compensate them and terminate the contract early
Wait for the term to end: When the loan is paid off, you can buy the vehicle from the buyer at the agreed price

These situations are rare, but we can facilitate negotiations if you and the buyer both agree to modify the arrangement.

Costs & Fees

Transparent pricing with no hidden charges

How much does this cost for me as the owner?

Just $15. That's it. No hidden fees, no monthly charges, no percentages.

Our $15 document processing fee covers:

Finding and vetting qualified buyers
Running background and credit checks
Preparing all legal contracts
Facilitating the vehicle transfer
Ongoing payment monitoring

You pay nothing upfront—the $15 fee is collected when you approve your matched buyer. No risk, no commitment until you're ready.

How can you charge so little? What's the catch?

There's no catch! We keep costs low for owners because buyers pay an upfront management fee that covers our service costs and the payment guarantee.

Think of it this way: owners are in a tough spot and need help fast. Buyers are getting a great deal on a vehicle they want without traditional financing hassles. They're willing to pay more upfront for that opportunity.

This model lets us help owners escape their payments for almost nothing while still running a sustainable business. Win-win for everyone.

What does the buyer pay?

Buyers pay an upfront management fee that varies based on the vehicle and remaining term. This fee typically ranges from $2,500 to $6,000 and covers:

Our matching service and AI technology
Payment guarantee (protecting your credit)
Legal contract preparation
Vehicle inspection and verification
Insurance setup and monitoring
Ongoing support throughout the term

Plus, buyers make your regular monthly payment going forward.

For buyers, this is a great deal because they can take over equity with flexible terms.

Do I get any money from the buyer's upfront fee?

In most cases, no—the buyer's management fee goes to us to cover service costs and the payment guarantee that protects your credit.

However, if you're significantly behind on payments (3+ months), we can sometimes work with the buyer to use part of their upfront fee to bring your loan current. This helps save your credit from further damage.

The real value for you is getting out from under payments you can't afford and avoiding repossession and credit destruction. That peace of mind is worth more than any upfront cash.

Are there any ongoing fees after the transfer?

No. You pay $15 once and you're done.

We don't charge monthly monitoring fees, annual fees, or any other recurring costs. Once the transfer is complete, you have zero financial obligations to us.

You can walk away completely free—no more car payments, no more insurance, no more stress.

Buyer Qualification & Matching

Learn about our matching process and buyer requirements

How do you find buyers so quickly?

We have a constantly growing database of pre-qualified buyers who are actively looking for vehicles just like yours.

Our AI technology matches your vehicle details (make, model, payment amount, remaining term) with buyer preferences in real-time. The moment you submit your vehicle, the AI searches our entire database and alerts qualified buyers who are looking for exactly what you have.

Most popular vehicles get multiple buyer inquiries within hours. That's why we can typically match you in as quickly as 24 hours.

What kind of buyers are you matching me with?

We only work with qualified, verified buyers who have:

Stable employment and sufficient income (typically 3x the monthly payment)
Clean driving records with no major violations
Ability to pay the upfront management fee
No criminal history related to fraud or theft
Verifiable residence and identity

Many of our buyers are professionals who:

Want luxury vehicles but prefer short-term commitments
Need a car immediately but want flexible options
Want to test a vehicle long-term before committing to ownership

We thoroughly vet every buyer before matching them with your vehicle.

Do I have to meet the buyer in person?

No! The entire process is contactless if you prefer.

We facilitate everything remotely:

Contracts are signed electronically
Vehicle inspection can be done by our team or a third party
Key handoff can be arranged through us or a secure drop-off location

Some owners do choose to meet their buyer just to feel more comfortable, but it's completely optional. We understand that privacy and convenience are important.

What if my car has issues or damage?

Full transparency is key. You need to disclose any known issues, damage, or mechanical problems upfront.

Minor cosmetic issues (small scratches, dings) usually aren't a problem—buyers understand they're getting a used vehicle. Mechanical issues might require:

Repairs before transfer (buyer may agree to handle this and adjust upfront fee)
Reduced match options (some buyers specifically look for project cars)
Price adjustment on the end-of-term buyout

The most important thing is honesty. If you hide problems and the buyer discovers them later, it can void the contract and create legal issues.

We conduct pre-transfer inspections to document the vehicle's condition, protecting both you and the buyer.

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Frequently Asked Questions

We Work With All Major Brands