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<3 | If I am financing my car... can I sell it? if its not fully paid? |
Thanks |
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leachnissan
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Yes you may sell it as long as you satisfy the amount of the loan. The bank has the title and without fully paying off the loan you cannot get the title released from the bank. If you are "upside down" meaning you owe more than the car is worth you have to pay the difference. I hope this helps |
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rodneycalmes
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you can sell the car, but you must get approved for a non-secured loan to pay the balance off the car loan, or you can write out a credit card check or do a credit card balance transfer to the bank to pay that loan off. |
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april d
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yes you can sell is but if it doesnt sell for the amount you owe on the loan you will still have to pay off the remaining balance. |
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goombajoe
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no it has a lien holder you would have to pay it off first or trade it inn |
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njyogibear
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u would need to pay off the balance on the loan before transferring it to someone else. the problem is, it's very easy to end up where you owe more than the car's market value. |
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shay4badcat
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Yes you can.
If you want just SELL it to a private party, you can either have they come up with their own financing OR you can arrange for them to just take over the payments. But if you want to buy a new car and trade it in still owing on it you can do that too...but if you owe more than the bluebook value for it, you will be what they call "upside down"...so whatever the difference between what you owe and its worth is, they will just add that to the cost of the new car. |
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GSKTS
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Yes you just need to make sure that you sell it for more than you owe. Take the check and the title of your car to the bank and they will release the lean.
G |
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Debbie L
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Unless there is some clause in your contract, you should be able to sell it as long as you receive enough money to pay off the loan. Your lender will require you to pay them before you pocket any cash. |
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brittv83
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Yes by paying the current loan in full. |
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IndianaHoosier
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YES! There is several options you can do to do this. Most two common ways is trading it in at a car lot and adding the remaining balance to your new finance after trade in value they give you and/or finding a buyer who will pay off your balance and difference of what you want in return. It is a simple task after finding a buyer/or car lot that will work with you. |
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HEATHER
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yes you can, however you will need to take what balance you owe on the vehicle and pay it with the money you get for selling it. |
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marilenags
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yes, sale it, with the money pay you debt, then when you receive the original documents you mail them to the new owner. Mean while, go to the DMV.org and get a bill of sale, fill it up, with yours and the buyers information, so you get out of any responsability if the new owner does something "bad" with the car and also is a proof of ownership for the new owner. Hope it helps, good luck! |
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ButwhatdoIno?
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I figure you would have to go to the financier and ask....and probably the purchaser would have to be there to agree to take over payments and sign for it, (and you would have to sign off, otherwise they could come after you) |
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La dee dah ..
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no , because in order to sell it, you have to transfer the title , and if you are financing , the lender has the title until the car is fully paid . |
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rand4u2
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yes, its like selling a house, you have to go to where you got the loan, they have the title, then you transfer the amount you got/are getting from the sale to pay off the loan, if you dont get enough they have to assume the rest of it. |
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