how to sell a car outright that i'm still paying on?

Question

I am looking to sell outright instead of trade in to save myself from losing several thousand dollars, but I'm still financing the vehicle and the finance company has the title. Obviously I would have to sell the car for more than I owe, which I could easily do. But then what? Nobody is gonna hand over cash then wait for the title in the mail after I pay off the balance. Can this be done some other way? Is there an easier where buyers would get the title immedietly?

Answer 1

People will hand over cash and wait for the title in the mail providing you write up a bill of sale indicating that they paid you. Sign it and have your buyer sign it. Make a copy and let him keep one copy.

I have purchased vehicles in this way and it is perfectly normal.
This is the same procedure if you sell the car on craigslist.com, for example.

Good luck with the sale!

Answer 2

Any qualified buyer that a finance company or bank will approve to purchase your vehicle. The person borrows the money from whoever and there finance institution pays your finance company and gets the title. They will do all of this. Once that is done, the title changes to the new buyers name & your free!!!!!

Answer 3

You will have to get a check or cash from buyer,then take it directly to the bank and pay off your loan,then they will sign off on title. Only catch is most banks will put a hold on the buyers check until it clears then release lien on title. The soonest you will get a free title will most likely be atleast a week.

Answer 4

sell the car on craigs list, or ebay

Answer 5

I would call the lienholder and ask them what to do.

Answer 6

they can take over payments...they can do it at their bank or yours. their bank will pay your bank for the loan