What you are proposing here is not only dishonest but illegal.
You are party to defrauding the bank/finance company.
You are not just an innocent party, but are publicly encouraging someone to partner with you in this fraud. And have left the record here.
When the bank comes to the seller to repo the vehicle, he's going to have no option but to tell them that he "sold" it to you.
They will take it from you and you will be left with nothing. Unless you are planning to hide your identity or part out the vehicle before they find you. You can try to convince yourself that this is not illegal and you are just trying to help out some poor schmuck who is upside down on his loan, but you are wrong.
You are party to defrauding the bank/finance company.
You are not just an innocent party, but are publicly encouraging someone to partner with you in this fraud. And have left the record here.
When the bank comes to the seller to repo the vehicle, he's going to have no option but to tell them that he "sold" it to you.
They will take it from you and you will be left with nothing. Unless you are planning to hide your identity or part out the vehicle before they find you. You can try to convince yourself that this is not illegal and you are just trying to help out some poor schmuck who is upside down on his loan, but you are wrong.