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you need to pay off GMAC to get it out of your name. Otherwise, GMAC will REQUIRE you maintain full coverage insurance on it as you still own it if you don't transfer the title. to get the title, you have to pay them off.

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19y ago

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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 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.


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.


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 vehicle if the cosigner refuses to sign off on the loan?

The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.The loan must be paid before you can transfer title to the car.


Can you sale the car without the loan cosigner's permission?

If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.If they are not on the Certificate of Title you can sell the car. However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.


Can your wife sell your car if she co-signed on the loan?

She can if she is listed on the Certificate of Title as an owner.However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.She can if she is listed on the Certificate of Title as an owner.However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.She can if she is listed on the Certificate of Title as an owner.However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.She can if she is listed on the Certificate of Title as an owner.However, generally, the Title is held by the lender until the loan is paid off. You cannot sell a car without the Certificate of Title.


Can a co signer take over ownership of car loan and get insurance?

A co signer is for the loan, they do not have any ownership in the car unless they are on the front of the title. If they just co signed for the loan, that lmeans they will pay for it if the owner does not. Even if they paid the entire loan, they still would not own the car. To transfer the car, they would have to either pay the loan off or get a loan in their name and you sell the car to them.


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


Should you sell GMAC bonds?

In a conference call CFO indicated that 2008 would be better than 2007 for GMAC; based on that one would expect there might be improvement in the value of GMAC bonds later in the year - so hold for now.


Can you sell your tv even though payments are still being made on it?

Depends on how purchased. if you used a card you owe another company but tv is paid for. If financed from place you bought it, that is security for the loan and they have a lein.


Can you sell your car before the loan is paid off?

Yes. Be sure the buyer knows that the title is not free and clear. When they pay you, pay off the loan, wait for the title, and sign it over to the buyer. Don't hand over the keys until they have the title. You can give them a bill of sale as a receipt that they paid, but that is all they get until the title arrives. You are liable for their injury if they get into an accident before you sign the title over to them. You will have to pay off the loan or have the loan assumed. You wont be able to sign over the title since the loan company holds it until you have paid off the loan. If the loan was a personal loan you have the right to sell the vehicle whenever you like however you will still need to make payments or settle the outstanding balance. If the loan was secured against the vehicle you will nedd to arrange with the finance company to settle the balance before tittle is handed over.