I sold my car to a friend. Can they just take over the loan repayments?
It is unlikely that your friend can just assume the loan as that loan will still be in your name. It is also very risky to do that. If your friend fails to keep making the repayments on time, it’s your Credit Report that will be negatively impacted and you will be held liable for that loan. Be warned, having a default listed on your Credit Report will make it harder for you to get credit. In this situation, it is always best practice to pay off your car loan and have your friend arrange their own loan.