anyone ever heard of this before

...a company that does auto take-overs. They can get you out of your car and you still get to build your credit. basically, you wouldnt have to worry about your payments or the hassle of trying to sell your car. It doesnt cost you anything. the only catch is that the car stays in your name. the company has clients that need new cars but dont want to add debt to the credit ratio. a lot of people are looking for other alternatives to going to a dealership. we guarantee payment to you no matter what the other person does. our company actually pays you, not the individual person. we guarantee (in writing) that all of the remaining payments will be made. the first thing that we do is put a GPS tracking system on your car, we both know where the car is at all times. we moniter the entire process. that is what our company does. we have a legal contract to protect you from any negative credit and/or repossession.

Edited: 6/24/2007 10:45:06 AM by leydbck

sounds like the companies that buy houses from people so they don't default on there mortgage.

Though keeping it in your name is a bad thing. Alot could happen that would leave you liable, Say they just abandoned it? VIN and Title point to you. Also can be a door to Identity Theft.

yeah ive heard of that, i think it is a scam

I would never trust my credit, name, or identity to ANYONE else, no matter if they're a friend, corporation, or bum on the street.