answersLogoWhite

0


Best Answer

Your odds are not good, but, not impossible either. How much work are you willing to do to sell the car? Lets say you owe 10K, cars worth 7K,you find a buyer for 8K. You will have to come up with 2K to pay it off and sell it. The lender will help you with the details. If the lender sells it at auction, they mite get 4-5K for it, so it is your best interest to find a buyer with more money to spend. maybe you can borrow enough on the other car to make the payoff on the upside down car????

User Avatar

Wiki User

โˆ™ 2015-07-15 19:54:08
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: How can you sell a car that you have a lien on and owe more than it is worth?
Write your answer...
Submit
Related questions

How does one sell his or her home on which the IRS has placed a lien?

To sell your home, you put a FOR SALE sign out front. If the value of the lien is less than what you will get out of the house, then when you sell the house and pay off the lien, you get the rest of the money. If the lien is for more than the house is worth and you are ready to move elsewhere, you hand the keys to the IRS and say. "Here, have fun. It is all yours." At that point you owe more on the house than the house is worth.


What if you owe more on your house than what its worth and you need to sell in this horrible market.?

You probably won't be able to sell it unless the mortagee agrees to release its lien for less than full payment.


How do you sell a car of a deceased person that has a lien on it is it best for the children of the deceased to let the car be repossessed?

Pay off the lien is the simplest way. That can be done by selling the vehicle. Hopefully it is worth more than the loan amount, so the estate will have additional assets.


Can the bank legally sell a home in forclosure for more than What is its legally worth?

The bank can sell the property for any price they can get for it. No one is going to be willing to pay more than it is worth.


Why do guns sell for more than they are worth?

Define "worth." If someone paid an amount of money for an object, it was worth it to that person.


Can you put a lien on a car if there is no lienholder on the title?

If the car is put up as collateral for a loan, and that loan is not repaid according to the written agreement then a lien will be placed on the title. If you sell the vehicle the lien holder will be paid first before you are able to put any money into your pocket. Never use your car as collateral for any loans ... cars lose their values and soon enough the lien (loan) will be more than the car is worth. The lien still has to be paid off when it's sold, even if the lien amount exceeds the price the car is sold for.


Can a home be sold with a lien 3 times more than home is worth?

Yes, but the lienholder can only receive the actual amount of the sale.


How much is a used black MacBook worth?

Depending upon where you sell it. If you sell it on eBay you could get equal or more than what you bought it for. It is sometime uncommon for a Black MacBook not to sell for equal or more than asking price.


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.


Can you charge interest on a mechanics lien?

Depends upon the wording of the law in your particular state but usually, no. The seized property itself is the collateral for the amount owed - and in most cases is (or should be) worth more than the amount of "mechanics" lien.


How much should you sell your 9mm lorcin for?

Not really worth more than 50 USD or so


What is the value of a 1972 Miami dolphin Super Bowl ring?

That depends entirely on who owned it and how came into ownership of it. Player rings are worth more than coaching staff, which are worth more than cheerleader rings, which are worth more than office personnel rings. Stolen rings, more common than you might suspect, are worth 10 to 20 (years) for anyone trying to sell them.


Can a lien be placed on a home if you have a FHA loan in Michigan If so could the lien be more than the amount due?

Yes


What is the typical use for a usb cable?

They are worth more than 10 dollars.They are worth more than 10 dollars.They are worth more than 10 dollars.They are worth more than 10 dollars.They are worth more than 10 dollars.a


Is it illegal for a lender to sell a house for more than it's worth?

Its a Business, It is fine to sell it for a high price as long as the other party is willing to pay for it .


How do you get a judgment lien on a bank account?

If you have a judgment, you can work with your attorney to craft a lien on a bank account for no more than the judgment amount.


How do you collect a lien on property not worth as much as the lien?

In order to collect on the lien, you will need to see a real estate attorney and have the lien foreclosed. In some states, deficiency judgments are allowed (meaning that if the property is worth less than the lien, then any unsatisfied portion of the foreclosure judgment could be executed on other property of the defendants). See the phone book for real estate attorneys who give "free consultations."


Does Fiji sell more than what it has to buy?

yesss fiji sell more than it can buy..


How can i find out if a lien has been removed or not?

If they can't collect immediately, they might have the right to file a lien against ... easier than you think—liens are routinely removed when you sell your home or your financed auto.8 ... If you believe a lien is not legitimate, contact the lienholder.


What is worth more than a euro?

The pound is worth more than euro.


Who captures the droids on tatooine?

The Jawas capture droids on Tatooine, fix all damages, and sell them for more than they are worth.


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 many CD's did pantera sell in 1980's?

a little bit more than a shoe box worth


If you have medical bills that are more than you can pay can they put lien on your house?

yes


How much does Nancy Pelosi get paid?

Much more than she is worth! Wish I could buy her for what she is worth and sell her for what she thinks she is worth....What do you expect from a liberal from a gay community.