What would you like to do?

How do you sell a car on which you still owe money?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

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.
162 people found this useful
Thanks for the feedback!

Can you still owe money after your car is repossessed?

Yes, your car will be sold and if the price they sell it for is less than the balance left on the loan, plus the repossession fees, you will be responsible for that difference

Is it legal to sell a car if you still owe money on it?

  Answer     Yes, However, at the time of the sale if you do not sell it for atleast the amount owed, you must pay the difference(ASAP). I don't know what state

How do you sell a car when you still owe money?

  Answer   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 wh

How do you sell a car you still owe money on?

  Answer   Let the potential buyers know that the title still needs to be paid off. First they pay you, you create a bill of sale for them and hold onto the car. Send

How do you trade in a car you still owe money on?

  Answer   Dealerships have 2 tactics they will use on you when you go to trade the car in. Either they will offer to buy your car for what you owe on it and then yo

Do you still owe the money for the car if they have repossessed your car?

You would owe any payments not made up until the day the car was taken. So, if you hadn't paid for two months and they took you car, you would owe those two months. The borrow

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 lienon the vehicle. You will need permission from the lien holder tosell the car. If the lender has no lien on the

If my car is repossessed do I still owe them money?

When you finance or lease a vehicle, your creditor holds important rights on the vehicle until you've made the last loan payment or fully paid off your lease obligation. These

Can you sell a car to a dealership if you still owe money on the car?

Yes, Because then they would be responsible for taking care and paying for the car. The slang term "upside down" refers to when you owe more than the car is worth. If you se