2007-10-03 09:23:39 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
Need more information.
Here are some examples of how this can work.
lets say you owe 3,000 to the bank. And for some reason you are able to sell the car for 3,500.
You take the cash and pay off the loan and then transfer the title of the car to the person that buys the car.
the key to this deal is your ability to pay off the loan from the bank so that you can gain clear title to the car.
With out a clear title to transfer, you can not sell the car.
No one in their right mind will take over payments from you.
Good luck!
2007-10-03 09:34:48 · answer #1 · answered by satrurn1256 2 · 0⤊ 0⤋
You need to sell the car for enough to pay off the bank. I hope you can sell it for enough to do that and ave something left over to use as a down payment on your next car.
2007-10-03 23:43:17 · answer #2 · answered by Classy Granny 7 · 0⤊ 0⤋
I dont think you can do that, the bank would have the title to your car, and they wont give it to you until you finish paying for it. So therefor you cant sell a car without paying for it. You might just call up to your bank and ask someone about it
2007-10-03 16:29:01 · answer #3 · answered by marie76444 3 · 1⤊ 0⤋
YOU SELL IT ALMOST THE SAME WAY AS IF YOU HAD IT PAID OFF ,# 1 SELL IT FOR CASH ONLY , ( NO CHECKS FROM ANYONE ) # 2 DO NOT GIVE THEM THE CAR UNTIL YOU HAVE WENT TO THE BANK , AND HAD THE BANK CHECK THE MONEY TO BE SURE IT'S NOT BOGUS , # 3 PAY OFF THE BANK WITH THE MONEY THEY GAVE YOU .IN RETURN THE BANK WILL SIGN OFF THE LEEN HOLDER LINE ON THE TITLE ,# 4 THEN YOU SIGN OFF THE TITLE ON THE OWNERS LINE . # 5 GIVE THEM A BILL OF SALE WITH BOTH THE DATE AND THE TIME OF SALE , MAKE THEM SIGN THE BILL OF SALE ,(JUST IN CASE THEY GET IN A ACCIDENT BEFORE PUTTING THE CAR IN THERE NAME . ) UNLESS YOU PERSONALLY KNOW THE BUYER HAVE SOMEONE WITH YOU TO GIVE YOU A RIDE HOME . AT THAT TIME GIVE THEM THE KEYS AND TITLE AND WISH THEM WELL WITH THE CAR FOLLOW ALL THE STEPS AND YOU WON'T GET RIPPED OFF , MUGGED , OR BECOME A CRIME VICTIM
2007-10-03 17:06:23 · answer #4 · answered by D.C. 6 · 0⤊ 0⤋
You can sell - presumably for more than you owe on it- pay off your loan. The bank then sends you the Title, which you sign and give to the new owner.
2007-10-03 16:32:46 · answer #5 · answered by Kess Q 1 · 0⤊ 0⤋
when you sell it, use the money you got from the car to pay off the loan so you can open a new loan and get another car
2007-10-03 16:28:07 · answer #6 · answered by Jared P 5 · 0⤊ 0⤋
well after u pay off ur car.Post an ad online.Like ebay or any other online car thingys lol and also put an ad in the newspaper or even try a car magazine[if possible] not sure.good luck.! And also putting a reasonable price on the car.
2007-10-03 16:30:08 · answer #7 · answered by Molly 2 · 0⤊ 0⤋
Advertise and hope you get offered more than you owe on the loan .
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2007-10-03 16:28:45 · answer #8 · answered by kate 7 · 0⤊ 0⤋