can you sell a car with exsisting finance on it.?

Answer 1

The obvious answer is YES, BUT you have to make sure you can achive one of two situations;
1 - have the buyer assume the note, change it from your name to theirs, as well as tags, registration, insurance.
2 - Sell (for cash) in a sufficient amount as to repay the original debt. And be sure to get everything changed to the buyers name. I would also recommend you make a "written" agreement that they sign excempting you from any further involvment with this vehicle.
WHY - If they drive off and hit someone, or not pay the note, without a signed agreement, YOU COULD BE LIABLE.

Answer 2

Yes, you can; however, if you do not sell it for the amount that you owe on it, you will end up have to eat the rest of the amount financed.

I.E. You owe $5000, and sell it for $4000, you will end up having to put up an extra $1000 to the bank or you will be making payments on a car you do not own.

If you trade it in and still owe, the dealership will take what you owe less what they will give you for it, any difference +/- will be added to or taken from the amount of the new vehicle.

Answer 3

No, because you will need the finance company to sign off on the sale. They are the actual owner (called the lienholder) of the car, you are only the registered driver. Either you will have to pay it off, have the buyer pay it off, or have the buyer refinance it.

Answer 4

yes, you can have the buyer take over payments, or you can pay off the car with the payment you recieve