we owe $12,000 on a 2004 nissan car and it's worth that much (checked it on kellybluebook.com). we want to sell it out right, send the bank the money and give the title to the new owners.
having us and the buyers go to the local branch is out of the question because the loan is through nissan and they arent anywhere close to where we live.
paying the loan off and then selling isn't an option either (no money).
should we call the bank and ask them?
2006-09-05 12:40:49 · 8 answers · asked by confused mom 4 in Cars & Transportation ➔ Buying & Selling
have them take over the payments. you would have to get with nissan, get the neccessary info, get with the ones that want to buy it, they take the info to their bank etc. take care of things on their end, then their bank would contact nissan etc.
2006-09-05 12:52:58 · answer #1 · answered by daddysboicub 5 · 0⤊ 0⤋
It may be worth 12 however a person may not necessarily be willing to pay that. Just explain to the seller that you will need the money so you can pay the lien off and as soon as the title is released, you will sign it over to them. Call the lender and ask them how long it takes to get the title once the lien is paid off. You may have to do some type of sales contract with the buyer when they give you the money because theoretically, you could be ripping them off.
2006-09-05 13:17:38 · answer #2 · answered by Mike Hunt 5 · 0⤊ 0⤋
You can call the bank, but they're going to want the balance of the loan before they surrender title. Trading it is ususally how people get out of a car they still owe on. I just traded my car in on a Ford with 0% APR and a rebate. Now is a good time to buy because they're trying to clear out 06 vehicles now that 07s are in
2006-09-05 12:44:37 · answer #3 · answered by Blah 6 · 0⤊ 0⤋
propose the clientele to fulfill you at your community branch of the financial organisation that holds the lien and habit the transaction on the indoors maximum loan officers table..the shopper will provide the money (that it is owed)directly to the financial organisation and relax to you. in the event that they pay in money or qualified financial organisation examine the financial organisation will sort up a lien launch maximum suitable then for the recent proprietor it is appropriate documentation for the motorcar that the indoors maximum loan has been happy.
2016-10-14 08:56:18 · answer #4 · answered by wishon 4 · 0⤊ 0⤋
you have to find someone to assume the loan and yes you have to let them finance it in their own name with the bank or credit union of their own choice and it must be paid for in full for the finance company to release the title.
2006-09-05 19:18:31 · answer #5 · answered by CaliMa 3 · 0⤊ 0⤋
You sell it. When you get the Lien Release you go to the DMV and transfer the title.
2006-09-05 12:43:09 · answer #6 · answered by cannon1977 3 · 0⤊ 0⤋
yes, call Nissan to see what they suggest
keep making payments to lower the payoff amount when you actually sell the car...you'll save on interest, which accrues daily
2006-09-05 13:14:52 · answer #7 · answered by Dwight D J 5 · 0⤊ 1⤋
they would have to be approved to take over payments.
2006-09-05 12:43:57 · answer #8 · answered by star sailor 3 · 0⤊ 0⤋