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Contact your lender for an exact payoff balance and ask to make sure they physically have the title in their possesion. Have your buyer bring two cashiers checks - one to you for the amount in excess of your loan balance and a second made out to the lender to pay off the loan. Most lenders will then sign off on the front of the title, releasing their lien, and give or send it to you. You're then required to sign off as the registered owner and give the now "free and clear" title to your buyer to be transfered into their name. If you are selling your car for less than what you owe on it, you'll have to come up with the difference to make the payoff and obtain the title.
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How do you get rid of a car on which you still owe money?
Sell it privately for what you owe on it.
How do you sell a upside down car?
If you mean you still owe money on the car you don't sell it unless you can take the money and pay off the loan. The bank really owns your car and the pink slip, so if you sell it without the loan getting paid you still owe the money to the bank.
Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
Can you sell your car before it gets repoed?
Even if you could you would still owe the bank the money they paid for the car.
Do you still owe money if your car is repossess?
Yes. You owe the amount of the unpaid loan, minus whatever they get when they sell it at auction (very little), plus their costs.
Can you sell a car while you still owe money?
Yes, though you have to pay off the loan before or as part of the process.
Can you sell a car that you still owe money on if the buyer takes over payments?
Yes, if the lender approves of the transfer of the loan.
Once the lender sell you car do you still owe the balance?
You owe the difference in what the car sells for and the balance on the note.
Can your car get repossessed after bankruptcy?
not if you still owe money on it
How do i sell a wrecked car i still owe money on?
You cannot sell a car you have a loan on if the lender has a lien on the vehicle. You will need permission from the lien holder to sell the car. If the lender has no lien on the vehicle then you can sell it if you wish. The title will list any lien holder.
How do you sell a car when you still owe money?
If the car is worth less than you owe on it, you can try to get an unsecured loan from a local credit union or a local bank. You could also try to ask whatever financial institution has your car loan for an unsecured loan for whatever the car doesn't bring when you sell it.
Can creditors force you to sell your car if they have a lien on it?
No, they cannot. But if you borrowed money to buy the car, they can repossess it if you do not square things up. If they take it, they can sell it for you, and you will still owe the difference between what it sold for and what you had left to pay on it.
