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Can you sell your car if they sent you the title by accident and continue your payments?
Wiki User
∙ 14y ago
Not a wise idea because your contract with the finance company probable holds the vehicle as collateral. If you no longer have the collateral they can demand payment in full to satisfy the loan.
Wiki User
∙ 14y ago
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Can you sell a car for parts that still has lien on the title and continue to make payments yourself?
The answer is NO, unless the lender approves of the sale. Contact the lender.
If I co-signed for a car and the person can not continue the payments and I being the primary owner decide that I do not want to keep this car can it be traded in for another?
Absolutly. If the title is in both names it will be required that the other party "sign off" the title as you will need to sign off the title too when you sell or trade in the car.
If you still owe a considerable amount on your car that isn't running should you continue to make the payments and insurance or voluntarily surrender it or sell it and take out a loan for the balance?
Sell or continue to make the payments. Do not let the car be repossed. This would hurt your credit and is the last thing to do.
Will the bank repossess your car if it has been stolen and in an accident and the insurance was expired?
As long as you continue to make the payments, you are OK. If you fail to make the payments, they will repossess the car, sell it, and you will then owe the difference in what it sells for and the balance on the loan. The previous answer overlooked one important point. INSURANCE WAS EXPIRED If they don't repossess it, it is only because it is worthless after the accident. What they would prefer to do in this case is "accelerate the payments", i.e. make you pay the remainder of the loan immediately. Then you can worry about disposing of the carcass.
If you have not paid your car payments for over 3 years can you file a lost title and sell or get the title?
No, you can only replace a lost title. If the vehicle had a lien from the bank, a replacement title will still show the lien.
Can you sell a car if you are behind in payments?
You can sell it but you need to obtain enough to pay off you creditor so you can obtain title and change it over to new owner.
Can someone take over car payments in a vehicle sale?
Yes, but typically the loan "originator" remains responsible unless the actual loan is transfered to the new purchaser. Letting someone "take over payments" on your loan is a very bad idea. If there should be an accident, the title is still in the sellers name and they remain ultimately responsible. I have had parents pay cash for a car for their kids and place themselves as the lienholder. Legally they can't be sued if there is an accident and the kids can't sell the car without the parents signing over the title.
Can a car be protected from creditors if it is in default and the title is transferred to someone else?
Your creditor most likely holds the car title and/or there is a lien on your title. So, you will be unable to transfer title without paying the lien. The easiest thing to do is to bring your payments up to date and then to sell the car if payments are too high for you to manage on a regular basis.
As a co borrower with the title in your name can you sell the car and or trade it in if you are in possession of it and are making all the payments?
If bothe names are on the title then no. If its just your name then yes. If the bank has the title then call them about it. In my experience its a huge pain in the ass to sell a car with a lien on it. Trust me. If it is a title and the other person signs off on it then yes. If you are trying to sell the car without the other named person whether it is a title or registration then no.
Do you need a title to sell your auto?
If the vehicle is paid off yes...If you are still making payments and you want to sell to an individual you will need to talk with your lienholder. If you are selling to a car dealer they will handle it for you.
Can I legally sell my car before I have paid for it?
No you can not. I would assume that whoever you have it financed through still has the title. You cannot sell the vehicle until the title is in your name. The person that you are selling it to may pay you what you want and then take over the payments if your financial institution allows it.
If after making boat payments for a year the finance company starts sending your payments back and saying they have no record of your loan can you sell?
Do you have the title? I would watch out with this one, sounds like they made an error, however if you have title, I wouldn't sell right away, I would make another payment and when payment sent back, keep the envelope, sealed the way you got it back and hold on to it, just so they can see you have been attempting to pay the debt in the event they figure out they made a boo-boo. However, if you have title, and no lien on title, can't see why you cant sell.
