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You should be sure to get at least what you owe on it. When the buyer pays you, send the payment to the bank, wait for the title, sign it over to the buyer and give him the keys.

When you receive money, be sure to sign a bill of sale (date, vin #, both names, and agreement to sell the car).

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โˆ™ 2011-09-13 04:22:04
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Q: How can a financed car be sold?
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Related questions

Can you register a financed car?

You can, should, and are legally required to register a financed car.

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73% of new car purchases are financed, according to this website:

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You ALWAYS need insurance on a financed car, and it has to be full coverage. Doesn't matter what state you're in.

How do you sell a personal financed car?


Can a towing company lien sale a car if car is financed?


Can a car be financed in my name but registered in someone else's name?

I think you could only do something like that as a cosigner, because the loan originator will put a lien on the title that will have to be settled before the car can be sold or transferred.

A financed car that's not drivable?

That's a statement, not a question. What are you asking about the car?

If your car is financed through a dealer do you have to have full coverage insurance?

I believe it depends on the state, but as far as I know, if you have to have full coverage on a financed car, it doesn't matter where it's financed. If you still have questions, ask your insurance person, they'll know the answer.

What is a financed car?

A "financed" car is one that is purchased with money that is loaned to you. You then make monthly payments at a certain rate and percentage for a certain number of years and months. The car is owned outright by the one who lent the money.

Can you get insurance money instead of repair?

If the car is not financed-Yes

Can you get a title loan on a financed car?

Legally, NO !!! can you, sure!! LOL

What to do when your financed car breaks down?

When your financed car breaks down, you need to get it fixed so you can drive it and keep paying your loan at the same time. If you can't afford to get it fixed, you can give the car back to the finance company.

If you financed a car can you later on trade it in for a new car?

Yes, no worries as long as that car has no defects and it is in good condition.

What is it called when a car dealer gives the bank false information about a car in order to get it financed?


Why would a bank sell someone's car?

Because the bank owns the car. The person that financed the car did not pay the bank.

What happens if you financed a car and you stopped paying on the loan the loan has been charged off and you still have the car?

I don;t know what you mean by "Charged Off". Unless somehow they have written you off as a deadbeat and forgotten the car, which I doubt, they will come and get the car. They will then sell the car and you will pay the difference in what the car sold for and the balance on the loan. Your credit will be ruined for 7 years.

What part of slavery did Rhode Island take part in?

They bought and sold, transported and financed the industry.

Is it illegal to part out financed car?

Yes, if it isn't completely paid for.

What is the first car sold in the US?

the first car sold in us is a American car

Where was the first car sold?

The first car to ever be sold was in Germany and it was sold by Karl Benz.

Can you return a used car purchased from a dealer?

A car bought from a dealer is usually financed by a bank they want there money not the car back

What happens if a vehicle is insured by you but financed in your fiances name and he passed away in the accident?

Explain to them that you shared the financed "account," and you should receive the money because they car was also your car. Though, sorry to hear about your fiance :(

Can a financed car be used as collateral for a loan?

Since the car is financed, it already is collateral for a loan. Your car loan uses the car as collateral for that loan. I think the only way for you to use the car as collateral for a different loan is to have the NEW lender pay off your car loan, tack the ammount of the car loan on to the new loan you are getting, therefore they would then be the leinholder on the car.