My husband died and I have two cars that I am making payments on. I will sell mine which I owe about 20,000. It is a 2006. My husband's car is similar. How is the best way to sell it?
2007-05-26 15:17:12 · 12 answers · asked by Simmi 7 in Cars & Transportation ➔ Buying & Selling
Put it on e-bay
2007-05-26 15:20:47 · answer #1 · answered by cry baby gator 4 · 0⤊ 0⤋
I'm sorry for your loss Simmi. The important thing here is have you signed for either or both loans? If your name is on the loan you are responsible to satisfy the loan either by paying the payments, paying in full, or selling the vehicle. If the vehicle is worth what you owe there shouldn't be much of a problem. There's E Bay which usually brings higher than ads in the local papers. And dealers who will be glad to give you less money faster if the loan is low enough. But, I've got a feeling that more is owed on the loans than the cars are worth or you wouldn't be on this website. If your name is not on the loan, and if the estate is not huge, you should not pay the loan(s). Call the lender and inform them that their borrower has died. As a courtesy you are offering to bring the car to them and drop off the keys. You should know, as does the lender, that the only collateral for a car loan IS the car. Not the house, not the wife, not the family. The bank gets the money or the car. PERIOD! Your husband's credit may get a little banged up but.......? If your name is not on the loan your credit can't be touched. If your name is on the loan and paying the payments is a hardship for you, follow this advice anyway. Today many people have derrogatory items on their credit and manage to live a normal life. If lenders only loaned to people with excellant credit they would have very few applications. Many lenders seek out those with credit issues, especially when it can be shown that the blemish on the report was caused by an isolated incident. This gives them reason to charge a higher interest rate without a substancial increase in risk. DONT SWEAT THE DEBT!
2007-06-03 07:29:39 · answer #2 · answered by Dogbettor 5 · 0⤊ 0⤋
In my area we have 3 used car dealers that will set your car on their lot and sell it for you, at a % of the sale price.
Over the years I have purchased 3 and sold 2 this way and have been well satisfied in all 5 cases.
2007-06-01 23:17:19 · answer #3 · answered by Anonymous · 0⤊ 0⤋
In my experience it is best to list it locally in a few papers. List it in the county you live in and whatever big city you live closest to.
eBay has listing fees as well as selling fees to consider. Plus you have to deal with bidders who don't pay, which is a real problem in eBay Motors right now.
Local is usually better because its easier to transfer title, get payment, etc.
If you can't get the price you want, sit on it for a little bit, don't drive it. The less miles the better price you'll get later.
You can usually transfer your lease also. I think you have to go to the bank it's financed through, not the dealer. Technically the bank owns your car until you pay it off.
Hope that helps.
2007-05-26 15:43:48 · answer #4 · answered by amanda t 3 · 0⤊ 0⤋
Prepare yourself by understanding how much your car is worth. Look at Kelly Blue Book (kbb.com) and NADA (nadaguides.com).
If your car is worth more than you owe on your loan, you're in good shape. Sell it, pay off the loan, and pocket the difference.
If not, you're upside down, and will have to add some out-of-pocket cash to pay off your loan, even after you sell the vehicle.
Where to sell: Carmax (if you have one in your area), place ad on Craigslist.com, advertise in local newspaper and "autotrader" magazines (free at your local supermarket), and put a "for sale" sign in the car window.
2007-05-26 15:29:53 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Sorry to hear about your hubby.
take your car to a few used car dealer,get some idea of the market value for your car.if you find anyone could offer a good price which will make u least happy,Or advertise in the newspapers for sale.
Sell one soonest.coz daily used car prices are dropping badly.
2007-06-02 07:55:23 · answer #6 · answered by george.m 4 · 0⤊ 0⤋
My deepest sympathy to you and your family.
If you go to the dealership where the car was purchased and explain to them your situation they will be willing to buy it back for a very reasonable price.
The only hard part is, when you go to sell the vehicle, your husbands name is probably on the title and you will have to attach a death certificate to the title since you will be signing for him. (I know it sounds ridiculous but titles are taken very seriously by the state.)
Best of luck in your decision.
2007-05-26 16:17:25 · answer #7 · answered by burberribunni 5 · 0⤊ 0⤋
Once you drive the car off the lot your value degrades rapidly. Your best option would be to place an add in your local auto trader magazine. May also want to try carmax if you cant get what you want they will typically give you kelly blue book value
2007-05-26 15:27:56 · answer #8 · answered by firemanemt4evr 2 · 0⤊ 0⤋
Sorry to hear about your husband.
CarMax will buy your car without you having to buy a car from them. I have sold a couple of cars to them and they have always been fair with their offers.
This is probably the easiest way, eBay is also an alternative though it could be a hassle.
2007-05-26 15:27:34 · answer #9 · answered by nerdherder 2 · 1⤊ 0⤋
You might even be able to get a good deal if you trade in both cars and buy yourself another one, maybe a smaller one or one at a reasonable price.
2007-05-26 18:26:59 · answer #10 · answered by Midwest Gal 2 · 0⤊ 0⤋
sorry to hear about your husband
take it to the dealership, tell them your story, they'll probably help you out in some way, if not you can sell it privately, but cars that expensive usually dont sell privately, g with the dealership
2007-05-26 15:21:13 · answer #11 · answered by DollyDagger 3 · 0⤊ 0⤋