Skip to main content

What is an assignee of an auto loan?

An assignee is a person or a company who buys your auto loan. 

For example, an auto dealer who extends credit to you may sell your loan to a bank, making the bank the assignee. You owe the money to whoever has purchased your loan. The assignee has a lien on the vehicle and can repossess if you default or fail to make payments on your loan.