1

My dad got me a Honda for my 18th birthday. I wish to pay off the remaining balance as a nice gesture and also so I can get a new car.

I would like for it to be a surprise.

I believe the loan account is joint because I can see it in my credit report and it is under joint responsibility status however I can’t see a loan account number there.

I told the dealership that has my next car that I will give them the extra cash needed to payoff the lien and they’re ok with it. Can they do this without any loan account number? Can they just send a cheque to Honda Finance with my VIN number and pay it off.

Now, in my understanding this makes 100% sense. That it doesn’t matter WHO pays off a loan just as long as it gets paid is all that matters. However there may be some completely idiotic rule that prevents this so that’s why I’m double checking here. I have the money to pay off the lien, I just need to pay it off. I can probably look around for old account statements that have the account number on it, but before I get to that stage I’m wondering if there’s any way to do it.

2
  • 1
    The most straightforward way to find out is to call the lender and ask. Worst that happens is they say no.
    – cHao
    Jun 20 '18 at 22:11
  • Are you selling the old car? or are you giving the car back to your Dad? Are you keeping both? Jun 22 '18 at 10:27
2

Can they do this without any loan account number? Can they just send a cheque to Honda Finance with my VIN number and pay it off.

Sure they can, whether they will only they can advise. Best is check with Honda Finance if they can accept it. Most likely yes and they would have the VIN # tied to the loan Account #. However it would be advisable to find the account number [by old statements or calling Honda Finance] and quote it.

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service, privacy policy and cookie policy

Not the answer you're looking for? Browse other questions tagged or ask your own question.