I have a very good friend from Jamaica. He has just came back to the USA and is in the process of getting his citizenship......He wants my car.
He is going through all the homeland security stuff now, and has not been issued a SSN yet, and aside has no credit for ford to xfer the note to his name.

How can I do that? Anyone got an idea how he could take over payments or pay my payments without me getting screwed if something happens?

 

Make him buy the Bronco.

 

Right! Then what happens when overhaulin comes calling?

Story for another topic, but we are back into the restoration part of it.

 

Unless he can get a loan in his name (probably impossible) there is no way for you to get out of the responsibility. Even if the bank lets him assume your payments, you basically stay on as a co-signer and are ultimately responsible if he doesn't pay or pays late.

 

blasted. Think Ford Credit (aka the devil )would roll it over into his name?

Hubby says- let him make the payments. Right, if he gave me upfront $$ I would just pour it into the El. Fund anyway so It would be pointless.

I want my mustang=preferably yesterday dangit.

 

Well, he can't do anything until he gets a SSN, has to have that for any financial business.

 

As a foreigner myself (now with new and improved Green Card) I know he can get a TIN number (Tax Identity number) and this will work as a SSN at the bank. It's a pain but you can open a free checking acct with a TIN and from there you can get a bank issued credit card with very low limits. I don't think he'll be able to take over in a month or two but if he has a job lined up in writing some one-on-one talking with Ford or a bank might help.