I bought a used car and was pretty much "taken." I now owe more than the car is worth and I just want to get rid of the thing and pay down the loan so I can pay it off faster and start fresh in a few months. Can I sell someone the car and still make payments on the car loan? I owe $7000 and can sell it for $5000, so it would leave $2000 more to be paid off and I can'd still need to make payments. Thanks!
2007-02-18 05:03:43 · 3 answers · asked by James and Ashley 1 in Cars & Transportation ➔ Buying & Selling
It will be difficult to sell the car without the title. I'm gonna guess that the people that loaned you the money have the title. You have something like the title, but its not the title.... you need the title, aka pink slip to transfer ownership to your buyer.
If you arrange to pay off the loan at the same time you sell the car, you can probably do it at your bank or the office of who ever loaned you the money and pass the papers around in a circle so that the buyer ends up with the title and the bank gets their money.
2007-02-18 05:10:28 · answer #1 · answered by cato___ 7 · 0⤊ 0⤋
1
2016-09-26 08:30:20 · answer #2 · answered by ? 3 · 0⤊ 0⤋
you can but you wont get the title until you pay off the loan
2007-02-25 08:57:27 · answer #3 · answered by racingirl14 3 · 0⤊ 0⤋