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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.

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โˆ™ 2014-01-23 20:59:56
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Q: How do you sell a car that you still owe on that is damaged?
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How do you get rid of a car on which you still owe money?

Sell it privately for what you owe on it.


Once the lender sell you car do you still owe the balance?

You owe the difference in what the car sells for and the balance on the note.


Can you be charged for a car if you let the car be repoed?

Lets say your financing a brand new car. You owe $25,000 on it and when it gets reposessed you still owe $18,000. The reposession company will sell the car and that gets subtracted from what you owe. Lets say they sell it for $7,500. So they would subtract $7,500 from $18,000 which means when all is said and done, you still owe $11,500 on the car.


If you file for bankruptcy and your car is being repossessed through the bankruptcy with a loan on it and the car interior has been modified and damaged would you still owe anything on it?

If the car is being repoed then you owe something.


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.


Can you still owe money after your car is repossessed because of the recall?

If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.


Can you sell your car before it gets repoed?

Even if you could you would still owe the bank the money they paid for the car.


Do you still owe money if your car is repossess?

Yes. You owe the amount of the unpaid loan, minus whatever they get when they sell it at auction (very little), plus their costs.


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.


If the bank repossess your car do you still have to pay your car payments?

NO but why would they repo if you are making payments. You don't still have to continue to make payments, however, if your car is repossessed, normally the finance company will sell the car and you owe any deficiency balance. In other words, let's say you still owe $5000 on your car and the finance company sells the car at auction for $4000. They will eventually contact you and you will owe the $1000 difference.


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 lien on the vehicle. You will need permission from the lien holder to sell the car. If the lender has no lien on the vehicle then you can sell it if you wish. The title will list any lien holder.


If you have a lease through GMAC and the car gets repossessed do you owe for the remaining payments or do you owe for the ACV of the car?

they sell the auto at an auction sell it to the highest bidder and you the remainder


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.


If your car is totaled and you still owe for your car do you have to still pay for it?

Hell yea


How do you find out if the owner still owe a finance company on the car you are buying?

how do you find out if the owner still owe a finance company on the car you are buying?


Can creditors force you to sell your car if they have a lien on it?

No, they cannot. But if you borrowed money to buy the car, they can repossess it if you do not square things up. If they take it, they can sell it for you, and you will still owe the difference between what it sold for and what you had left to pay on it.


If you dented another car and then that car is totaled in a separate accident before reapirs are made do you still owe for the dent?

Yes - you still owe for the dent.


What if you buy a used car and it breaks and you still owe on it?

My car is in the impound, i still owe 7,000.00 the impound put a lean. Will the finance Co. take me to collection?


What if you wreck a car without insurance and owe the bank payments?

Then you still owe the bank.


What if sell the car but owe on it?

If you owe money on the car you cannot legally sell it without the lender signing a release form removing the lien on the vehicle. The lender actually owns the car, not you. Once you make the last payment the cars is yours.


Can you sell a car your making payments on?

Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.Yes you can, however you still must pay back the balance of what you still owe.


Do you still owe for car returned before repossession?

Unfortunately yes what the bank or creditor will do is sell the car most likely at auction for "X" amount. you end up liable for the difference between what they sell it for and the remaining balance of the loan.


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 sell a car to anyone (including a dealership) for less than you owe you would be the one responsible for paying the difference. The dealership will verify with the fiance company what payment is required to release the lien. For example if you owe 10,000 on your car and the dealership will give you 9000, you would have to pay them 1000 to take the car. If you're trading in the car, then the shortage can sometimes be rolled over into the new car purchase.


Do you get cash back when you refinance your car with the credit union?

When you refinance your car, you get a new loan for the remaining amount that you owe. You cannot cash out unless you sell the car for more than you owe.