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Yes, it is a little bit of a pain to the buyer, but if the deal is right then it will sell. When you find a buyer, get the money and use it to pay off the loan (you may have to put some of your own money into the loan if you don't sell it for enough to cover it). Give them a dated bill of sale, but don't hand over the keys until you have a title to sign over. You are liable for the car and everyone in it until that time. Then you have to wait until the title comes to you in the mail. Once it comes, you can sign it over and give the buyer the keys.
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∙ 18y ago
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How do you sell a personal financed car?
repossession
You want to sell your financed car; but how does the transferring of the title work?
Contact your lender.
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.
Where can sell a used car when it's financed?
You cannot sell a car with a lien against it without getting a lien release from the lender. To do otherwise is illegal.
What do you do with a financed car when you have to move abroad and can't keep paying it?
Sell it and pay your lender!
Can you sell your car with payments left on the loan?
Someone cannot sell his car if there are still some pending payments on a loan. It is however possible to enter an agreement with the financier so that the remaining payments can be financed by part of the proceeds from the car sale. An extra interest payment may be charged for that.
How can you be removed from legal ownership of your sons car that you financed through the dealership?
If you own the car, sell it to him for $1. That should solve your problems.
How do you sell a car that is still financed to a provate party?
Legally you can't ! The car belongs to the finance company until it's paid off !
My car is financed but is beyond repair an I need to know if I c an I sell it to a salvage company?
If your car is financed you cannot sell it to a salvage company. Even if the car is beyond repair it does not technically belong to you until you have finished paying for it. Once you pay the finance company off you can sell it to anyone you please. The salvage company won't or shouldn't purchase that vehicle without a clean title.
Can you register a financed car?
You can, should, and are legally required to register a financed car.
Is it illegal to scrap a financed car the dealership did not want?
I'm not sure what the "dealership did not want" has to do with it but it is always illegal to sell anything that is financed. This is called "Selling of mortgaged property" and I believe is a felony
Can a judgment creditor take my fully financed car?
Not if it is 100% financed or on a lease. A judgment creditor can force you to sell it for its market value, pay the lender what is due on the loan and take the rest.
