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How do you sell a car if you have a loan on it but it is worth more than you still owe?
Wiki User
∙ 8y ago
First subtract the amount owed on the vehicle from the value of the car. Sell the car for this amount, then have the buyer take over the loan.
This involves paperwork with your current Dealership, DMV, and of course a bank or credit union.
Wiki User
∙ 8y ago
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Can they sell your house if you owe more than its worth to pay a loan off?
If you're upside down, they will look to you for the difference after.
How do I get the car loan out of my name when I sell it to some one?
You cant. The loan in your name must be paid off by you. So if you plan to make any money off your car you will want to sell it for more then what is still owed.
What do you do if you cosign for someone and they wreck the car and sell it but still owe on the loan?
When they get out of jail for selling property with a lien on it, and after YOU pay off the loan, you might consider NOT co-siging again.
What is the purpose of a quick bridging loan?
The purpose of a quick bridging loan is to enable a person to complete the purchase of a property when they are still waiting to sell their own home. It provides a short term solution.
How do you sell a car that still has a large balance on the loan?
You could try ebay,auctions, personal sale or want ads in the newspaper or online.
Can they sell your house if you owe more than its worth to pay a loan off?
If you're upside down, they will look to you for the difference after.
How do I get the car loan out of my name when I sell it to some one?
You cant. The loan in your name must be paid off by you. So if you plan to make any money off your car you will want to sell it for more then what is still owed.
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.
How can you sell a car that you owe more on than what it's worth in other words where does the balance you owe transfer to?
If you car is finance, there is a lien against it by the bank or loan company. This Lien will have to be removed, which means that the balance owed on the vehicle has to be paid in full in order to get a clear title to sell the car. You are "upside-down" on your car loan ... where you owe more than it is worth or can be sold for. You need the permission of the loan company to sell the car ... you can't sell it without the title, and the company that holds the title (aka pink slip) also holds the note for the loan that you are paying back monthly. You will need to pay the balance of the loan regardless of what price you could sell it for. In this case, you will be handing over a large sum of money just to sell the car ... best thing to do is just keep it.
How do you sell a car that you still owe on that is damaged?
If you can get enough out of the car to pay off the loan then just sell it. If you are upside down on the loan, they that presents a real problem. You may have to just sit on the car until you pay off enough of the loan to be able to sell it an get enough to pay off the loan. You could also sell it and take out another loan that will cover the deficiency, but that may not be a good decision if you are financially strapped.
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.
How can you get rid of a your car when you still have payments?
Sell it or trade it in. Then take the proceeds to pay off the loan.
What is the value of a Rihanna signature?
depends.. rihanna is still alive so it would not be as worth as much as if she werent, depends who you sell it to, depends if it is legible, depends what it is on,depends where you sell it....
How do you sell a car without the pink slip when still owing money on the car?
You can't sell it. You don't own it. The bank or loan company owns the car. You need their permission to sell the car and transfer title.
How do you sell a vehicle that is still being financed?
Yes, you can sell a vehicle that is still being financed. You will need to pay the loan company the balance of the loan with the sale proceeds in order to give the buyer a clear title. If you have to sell the car for less than you owe, you will be responsible for paying the balance out of your own pocket in order to transact a legal sale.
Cant afford car payments anymore?
whatever you do, don't let it get reposessed or voluntarily give it up. Your credit will be ruined for 7 years and you will still have to pay the difference between what they sell the car for vs. what you owe on the loan. If you don't owe that much more than it's worth try trading it in on a cheaper car and roll the difference onto your new loan. You'll be paying for it longer but your payments will probably be a lot less. Or sell it yourself (you'll get a lot more) and pay the difference to the finance company out of your pocket. If you owe a lot more than it's worth you're just going to have to suck it up and make the payments. If you don't you will regret it.
What do you do if you cosign for someone and they wreck the car and sell it but still owe on the loan?
When they get out of jail for selling property with a lien on it, and after YOU pay off the loan, you might consider NOT co-siging again.
