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First subtract the amount owed on the vehicle from the value of the car. Sell the car for this amount, then have the buyer take over the loan.

This involves paperwork with your current Dealership, DMV, and of course a bank or credit union.

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โˆ™ 2015-07-15 19:16:57
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Q: How do you sell a car if you have a loan on it but it is worth more than you still owe?
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Related Questions

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 do I get the car loan out of my name when I sell it to some one?

You cant. The loan in your name must be paid off by you. So if you plan to make any money off your car you will want to sell it for more then what is still owed.

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

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 whatever financial institution has your car loan for an unsecured loan for whatever the car doesn't bring when you sell it.

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.

How do you sell a car that you still owe on that is damaged?

If you can get enough out of the car to pay off the loan then just sell it. If you are upside down on the loan, they that presents a real problem. You may have to just sit on the car until you pay off enough of the loan to be able to sell it an get enough to pay off the loan. You could also sell it and take out another loan that will cover the deficiency, but that may not be a good decision if you are financially strapped.

How do you sell a upside down car?

If you mean you still owe money on the car you don't sell it unless you can take the money and pay off the loan. The bank really owns your car and the pink slip, so if you sell it without the loan getting paid you still owe the money to the bank.

How can you get rid of a your car when you still have payments?

Sell it or trade it in. Then take the proceeds to pay off the loan.

Is Italian gold worth more?

Italian gold is only worth More if you sell it to jewler that is going to resell it as a jewelry and not sell it off to be melted down into bars.

How do you sell a car without the pink slip when still owing money on the car?

You can't sell it. You don't own it. The bank or loan company owns the car. You need their permission to sell the car and transfer title.

How do you sell a vehicle that is still being financed?

Yes, you can sell a vehicle that is still being financed. You will need to pay the loan company the balance of the loan with the sale proceeds in order to give the buyer a clear title. If you have to sell the car for less than you owe, you will be responsible for paying the balance out of your own pocket in order to transact a legal sale.

What do you do if you cosign for someone and they wreck the car and sell it but still owe on the loan?

When they get out of jail for selling property with a lien on it, and after YOU pay off the loan, you might consider NOT co-siging again.

Cant afford car payments anymore?

whatever you do, don't let it get reposessed or voluntarily give it up. Your credit will be ruined for 7 years and you will still have to pay the difference between what they sell the car for vs. what you owe on the loan. If you don't owe that much more than it's worth try trading it in on a cheaper car and roll the difference onto your new loan. You'll be paying for it longer but your payments will probably be a lot less. Or sell it yourself (you'll get a lot more) and pay the difference to the finance company out of your pocket. If you owe a lot more than it's worth you're just going to have to suck it up and make the payments. If you don't you will regret it.

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.

You helped a friend get a car in your name only Now he has given the car back to you because he was able to get a car in his name after having a credit wipe What can you do?

Sell it? Keep it? It's in your name. Do whatever you want with it. If there's a loan on it, and the car's worth less than the loan, you'll have to eat the difference if you sell it. If the loan is in your name you have to make the payments. You could let it be reposessed, but the loan company will sell it and come after you for the difference in what they get and what you owe. Never buy a car for a friend.

Can you still sell a car currently in defualt and in risk of being repossessed?

Yes, and you will have to use the proceeds to pay off the loan. If you can't sell the car for enough to cover the loan, however, you will not get a title. No one should accept a car without a title.

Can you sell a car that you still owe money on if the buyer takes over payments?

Yes, if the lender approves of the transfer of the loan.

Can you sell a car while you still owe money?

Yes, though you have to pay off the loan before or as part of the process.

Can you sell a car that has a loan attached?

Yes, you can sell a car with a loan attached. You must pay off the loan with the money you receive in order to have a clear title or you must get someone to take over your loan.

How do I sell a vehicle while still owing on it?

As long as you sell it for enough to pay the balance on the loan off there is no problem. Just contact the lender and find out what the payoff on the loan is, and you will know how much money you must come up with after the sale. You may also work something out with the new buyer taking over the payments and paying you the difference in value and balance on the note. Or you may have to pay the buyer an amount if you are upside down on the loan, in other words the car is not worth what you owe on it.

How much can you sell 2 dollars Jefferson of 1976?

They're still worth $2.

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

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What is the definition of a graduated commission?

It's where the more you sell the higher the percentage of your commission. Example: you sell hats. For the first $100 worth of hats you sell you receive 5% commission. For the next $200 worth of hats you sell you receive 7.5% commission and anything over $300 worth of hats that you sell you receive 10% commission. Incentive to sell sell sell.

When a person died by naturally then what happen car loan?

Until the car is paid for, the company that made the loan still has a financial interest in that car for the amount that is still owed. If that amount is not paid, the holder of the loan has the right to repossess and sell the car. If that does not generate sufficent funds to pay the loan balance, they may make a claim against the estate of the debtor.

What about eBay stores are they worth it?

Yes, they are worth it if you sell 20 items or more. There are many helpful features.