2007-08-17 10:46:09 · 13 answers · asked by lukaslundgreen 1 in Cars & Transportation ➔ Maintenance & Repairs
No you can't do anything with your car because if you owe money on it it is not technically yours till its paid off.
2007-08-17 11:04:43 · answer #1 · answered by Danielle S 2 · 0⤊ 0⤋
call the fiance company and explain the situation to them, have them release the title lean and you can have the loan changed to a signature loan. or transfer the lean to something else of value. I have even had finance companies pay for repairs on old cars then add the cost to the end of the loan just to avoid getting stuck with a car that doesn't run. The bank doesn't want your car with a bad engine. If you provide a solution to there problem all you have to do is get them to accept it. If they say no they run the risk of reposesing a car the is worth nothing. This will cost them more than it is worth in the long run.
2007-08-17 18:14:25 · answer #2 · answered by junkman 2 · 0⤊ 0⤋
not legally. Pay off the loan first. Borrow the money from parents or friends. You may be better off just putting in a used engine from a salvage yard and then sell or drive the car.
2007-08-17 18:19:26 · answer #3 · answered by Fordman 7 · 0⤊ 0⤋
Technically that is theft from the dealer or finance company who owns that title... in most states the amount of $350.00 or over is a Felony
and also where it also deals with an automobile it can be considered Grand Theft Auto..
since it is still owned on paper by someone else its not yours and it would be unwise to do it...
you could get caught is it worth the risk?? especially for what little money you might get from doing it?
Walt
2007-08-17 18:01:46 · answer #4 · answered by Ronk W 4 · 0⤊ 0⤋
Yes. You can sell it for parts, But you will still have be pay off the ammount owed on it. Depending on how much you owe you might be better off putting a another engine in it.
2007-08-17 17:53:22 · answer #5 · answered by gaurdsmen 1 · 0⤊ 1⤋
I think you have to pay off the loan first. Because, the bank owns it right now. And if you defualt on the loan they will have no vehicle to hold against the loan that you failed to pay off. maybe as long as you keep paying the loan and dont tell bank and payoff the loan with the money from the parts all will be well?
2007-08-17 17:55:05 · answer #6 · answered by 4acee@sbcglobal.net 3 · 1⤊ 0⤋
Legally no, you don't own it the finance company does and if you default or they call your loan and you can't pay, it is theft of property because its not a whole vehicle
2007-08-17 17:55:00 · answer #7 · answered by rcbatten 2 · 0⤊ 0⤋
If you owe money you don't own it, the finance company does. No, you can't sell what you don't own.
2007-08-17 17:52:31 · answer #8 · answered by oklatom 7 · 0⤊ 0⤋
Onlt if you have the clear title. You are still obligated to repay the loan though.
2007-08-17 17:51:06 · answer #9 · answered by none 3 · 1⤊ 0⤋
no in 99% of the us it is considered theft unless you pay it off first
2007-08-17 17:54:44 · answer #10 · answered by dead7 4 · 1⤊ 0⤋