Sunday, October 11, 2009

How can you feasibly sell a car with a loan payment pending?

Dear Yahoo folks, I have 2003 Honda CR-V, outstanding and looks just as new, with low mileage. I might be moving or other personal reasons, otherwise I will not sell this great crv. I want to sell it, but I am still making payments on a car loan?. Any suggestions to go about?.





A dealer want to buy but they can literally rip the actual value of the price down to unreasonable one? So, any advice?

How can you feasibly sell a car with a loan payment pending?
You would have to get someone to pay for your car and be willing to wait until you send that money to the lender in order to get your title. Once you have the title, you will have to mail it to the buyer. Dealers are willing to do this, but as you said, they don't pay very much.





Failing that, you will have to pay off the car yourself and then sell it once you have the title in hand.
Reply:sell it to car max.. They will pay wholeslae market value on the car. If you own more than the car is worth you have to pay them. Some times it better to get a signiture loan on a small amount than keep a larger loan amount for a longer time
Reply:Contact your lender. Get a payoff on the car note good for a specified period of time, say 20 days. Sell the car, but have the buyer make a seperate certified check made out to your lender. Physically go to the lender (they have an agent where you live to facilitate this) and pay them. They will then sign off on the title. The balance of funds remaining is yours.
Reply:is sold my car to an out of state buyer before payments were complete. i expected to pay off my loan when selling the car. a dispute arose with the buyer which was indirectly caused by resolving an insurance matter of damage during the delivery of the vehicle. i signed the title i had over to the seller when they finally paid me only 3/4 of the price and i will finish paying the car off in august having no compensation for my payments. it's hard but vehicles are a very bad investment. for the past year, i've paid for a car i don't even use. Make sure the money is in hand from the buyer and sell it yourself. in good condition and a low interest rate loan to pay off will probably be the only way to get back what you owe. taking the dealer's price is a convenient and expensive service. dealers sell cars made in the last two years for the most profit. You need to sell your car with the same attitude, for the most profit.
Reply:That is a hot vehicle that is in high demand.





Of course the dealers are gonna try to steal it from you; that is what they make their living doing.





If you have time, sell it on autotrader.com and/or cars.com

tanning

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