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Can you sell a car when you still have a big car loan to payoff?
Wiki User
∙ 14y ago
the question is how you are trying to sell the car. if you are selling the car to a dealership they will give you most likely the whole price, which in the end effect will mean that you ill owe too much money. however, if you sell the vehicle to an individual than you can ask him the current value outside, which is more than whole price. so, in both ways you can sell the car, but depending how much your exact payoff is? if not clear...email me back...
Wiki User
∙ 14y ago
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What is an unsecured loan used for?
The difference between an unsecured loan and a secured loan is very big if for some reason bankruptcy is declared or the loan cannot pay repaid. Secured means that the buyer still needs to repay and unsecured mean he doesn't if bankruptcy is declared.
Whos qualified to get a debt consolidation loan?
A person who is in debt and needs assistance is qualified to get a debt consolidation loan. These loans are offered usually to individuals that are atleast $5,000 or more in debt. A consolidation loan is when a specialist will asst with combining all your bills into one big bill and the for the payer. Small payments are distributed to each creditors and balances are easier to payoff and payments are reduced. The debts are usually paid off soon than the original timeframe.
What are cosigner qualifications for a car loan?
You select a cosiger have good credit history is big qualification for car loan.
Can you sell a car when you still have a big car loan to pay off?
As the vehicle owner, you can sell the car whenever you choose. You are liable for the car loan. If you are selling the vehicle for less than the loan (especially when you are upside-down on the loan - you owe more than the car is worth), you need to pay the difference to your lender. When trading the car in to a dealership (in effect selling it to the dealer) the dealer should handle the loan payoff details. You need to inform both your lender and your state DMV that the vehicle is being sold. The lender will release the lien against the vehicle after they receive payment from the dealer. Selling to another individual is harder. It is best to work with your lender and find out how they prefer to handle the transaction. You will need to supply the buyer with a clear title, but you can't get a clear title until you lender releases the lien on the title, which they won't do until they receive payment. Many lenders have a standard way of handling individual to individual vehicle sales. For example, for a car with a loan greater than the sale price of the vehicle: In Michigan, go to either a Bank or a Credit Union and get approved for a loan around the difference in price you are looking at. Then, when you find a buyer and agree on a price, you will go to the bank or credit union, and get the loan. You and the buyer must go to whoever holds the lien on your car, and you both pay your amounts owed on the car. The lien holder will sign the title releasing the lien, and you are free to take the title in to the DMV. It varies from state to state, but this is how it is done in Michigan.
Advantages and disadvantages of loan?
An advanage of taking out a loan is that whatever bought that was big is already paid for kind of. But a disadvantage of a loan is that you have to pay back the bank the amount you borrowed little by little.
When was The Big Payoff created?
The Big Payoff was created in 1962.
When did The Big Payoff end?
The Big Payoff ended in 1962.
What is the duration of The Big Payoff?
The duration of The Big Payoff is 1800.0 seconds.
What are the release dates for The Big Payoff - 1951?
The Big Payoff - 1951 was released on: USA: 31 December 1951
Is it better to get one loan each year or one big loan at the start of your education?
First try and get a Pell grant which you do not have to payoff, then u can get a subsidized or an unsubsidized loan from Direct Loan if youre in the USA. Depending on whether it is an unsubsidized loan it really doesnt matter.. If you must pay interest on the loans while in college then get it over time but if there is no interest while attending cumulative credits then it is your choice...
What are the release dates for Schlitz Playhouse of Stars - 1951 The Big Payoff 6-14?
Schlitz Playhouse of Stars - 1951 The Big Payoff 6-14 was released on: USA: 28 December 1956
Does wonn dixie still sell big 60 cookies?
No she don’t she stoped
Can a car be sold if the loan is not paid off?
You can sell the car but the balance of the loan must be paid at that time. At the time of the sale when you know you will be receiving funds, call the bank and ask them for a "10-day payoff" this is the amount owed to pay off the loan 10 days from now. Once you sign the title over to the buyer and receive the money, You are obligated to pay off the car at your bank. You want them to get the money within 10 days so you don't end up owing more than the "10 day payoff" you requested. Interest accumulates daily so that's not a big deal anyway. If you do not pay the car off at the bank, when the person tries to title the car in their name, it will come up as "Lien not satisfied" in the states' database and they will not be able to register the car in their name.
What is an unsecured loan used for?
The difference between an unsecured loan and a secured loan is very big if for some reason bankruptcy is declared or the loan cannot pay repaid. Secured means that the buyer still needs to repay and unsecured mean he doesn't if bankruptcy is declared.
How do you get a big loan quick?
You will need to have good credit to get a big loan quick. If your credit is good, then visit your local bank to fill out a loan application.
How do you trade car not paid?
The dealer will pay off the loan but it t will cost you a fortune by a low tradein price and the dealer refinancing the original loan payoff. Don't do it. You can come out much better by finding a buyer yourself and paying off the loan with some of the proceeds. You are in a much better position to make a better deal or get a discount on the next car you want with more cash in your pocket. This can be a big bucks difference depending on the value of your car and the amount you owe.
Whos qualified to get a debt consolidation loan?
A person who is in debt and needs assistance is qualified to get a debt consolidation loan. These loans are offered usually to individuals that are atleast $5,000 or more in debt. A consolidation loan is when a specialist will asst with combining all your bills into one big bill and the for the payer. Small payments are distributed to each creditors and balances are easier to payoff and payments are reduced. The debts are usually paid off soon than the original timeframe.
