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Yes, However, at the time of the sale if you do not sell it for atleast the amount owed, you must pay the difference(ASAP). I don't know what state your in, but in Texas you must present the title to the buyer within 21 days.

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โˆ™ 2005-10-22 03:26:01
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Q: Is it legal to sell a car if you still owe money on it?
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Related questions

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 do you get rid of a car on which you still owe money?

Sell it privately for what you owe on it.


Is it illegal to sell a car when your still making payments on finance?

No its perfectly legal and if you are still making payments on it, that increases values.


What kind of sports car is illegal in ny?

Any sports car that is not legal to sell in the U.S. is not legal in New York. Any sports car that is legal to sell in the U.S. is legal in New York.


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.


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.


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.


Can you sell a car to your daughter for 1?

Yes, you can sell a car to your daughter for $1 in many places. You may still have to pay taxes on the amount of the car's worth. It is best to check your local regulations in order to avoid potential legal issues.


Your ex-wife signed your signature on a car title that was in both your names She was awarded the car in your divorce Is it legal for her to sign your name and sell it to a third party?

No...it is not legal for anyone to sign your name to a legal document or a check it is still forgery and can be a federal offence


My car was repossessed over a yr ago Can legal action still be taken against you?

So here is an example of what can happen when a creditor repossess an item. "If an item such as a car or furniture is repossessed, the creditor can then sell it. The money from selling the item is applied toward the money you owe. The creditor can still try to get any money you owe after the sale of the item. The terms of your contract might even add charges for the costs of repossession and sale."


What steps need to be taken to legally sell my car?

You will need to sell your car and then do a legal transfer of the title.


Where can I sell my car for money?

You may sell your car for money at any used car dealing store. You may also try selling or trading the car at car trading stores.


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.


Is it legal for a spouse to sell a car prior to getting divorce papers?

If the car is in your spouses name then yes, they can sell the car if they own it. If it is in joint name or it is your car then it is illegal to sell the car.


Which sports car is illegal in NY?

Any sports car that is not legal to sell in the U.S. is not legal in New York.


How can you sell a car with no title and get money for it?

If you are the legal owner of a car, have it register, and have simply lost the title, you can apply for a replacement through your state DMV. If you are the legal owner of a car but do not have a title for it, you can sell the car with a bill of sale and the next owner can attempt to a quire a title for it. You will have difficulty selling the car for anything like it's actual value. If you are still paying for the car, and as such haven't gotten the title yet, you can not sell the car as you do not own it, the bank does. Selling a car you are still paying for is fraud as you are selling something that doesn't belong to you. If you do not own the car, but are trying to sell it this is also fraud as you are selling somethign that doesn't belong to you. if u own the car straight out & just trying 2 sell it - all u have to do is go to the department of lic. with the BUYER & sign a "release of interest" form, it has to be notorized so both u & the buyer have to sign it with a notary present - its easy !!!


Is it legal to sell a car for one dollar?

Of course it is you can sell it as much as you like


Where can I sell damaged cars?

If you want to sell your old and damage car, then I will highly recommend you to visit Green Box Vehicle Recycling, they deals all kind of old, damage and scrap cars.


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.


If you have made a car insurance claim and you were granted a settlement due to your vehicle having incurred damage from another insured driver and you sell your car are you still entitled to it?

I wouldn't think so. If the car was totaled, then the insurance company gives you the money and tows the car. Basically, they purchased it. If you were given money to fix the car, and the the car they give you the money to fix is no longer around, then why would you get money to fix a car that's not yours anymore? Medical should still be covered though.


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.


Is it legal to sell a car with the odometer not connected?

It is legal, but you must disclose that the odometer is not accurate.


You lost your job and in North Carolina is it legal for them to take wages when you do get a job for letting your car go back?

== == Regardless of your employment situation, you still OWE for the car after it is repoed. The lender can sell it, to get some money out of it, BUT if the sale brings less money that YOU owe, they can still go after the balance that YOU owe, by attaching a court order for some of YOUR wages until the debt is PAID OFF. The reason I used capital letters above is to underline that it is YOU who have to take responsibility for YOUR actions, such as signing for a car loan.


What are legal penalties to sell a car you still have not paid off the loan to the lender?

you could face penaltys and or jail time because the car is not yours until you pay it off in full and there is no lein on it