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What else can I help you with?
How do you get rid of a car once you have signed the contract and your apr is really high?
Sell it to someone else, and pay the difference in what you sell it for and the balance on the loan. Or you could try to refinance the car with another lender at a lower interest rate.Sell it to someone else, and pay the difference in what you sell it for and the balance on the loan. Or you could try to refinance the car with another lender at a lower interest rate.
Can you sell a car for parts that still has lien on the title and continue to make payments yourself?
The answer is NO, unless the lender approves of the sale. Contact the lender.
How can you sell your motorcycle if you still owe on it?
Sure. To transfer title, pay the lender and the lender will sign off, then whatever is left from the sale, you get to keep.
If car is repossessed do you have to pay the balance on the loan and if so how much?
Once they repo the car, the lender will sell the car for whatever it will bring. You will then be responsible for the difference in what the car brings and the balance on the note. You may even be responsible for repossession fees, and your credit will be ruined for 7 years.
Can you get sued if you gave a car back and they say you still owe 5000?
Yes, the lender is required to sell the vehicle at public auction for a fair market value. Any discrepancy between the sale price and the balance of the loan is the responsibility of the borrower/buyer. A lender can file suit against the borrower for the remaining loan balance plus applicable fees.
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 to sell your financed car?
If your car isn't paid off at the time you wish to sell it, things are a little more complex. You need to close the loan with your lender by paying off the balance with the proceeds of the sale so that you can present a clear title to the buyer. If however, you have to sell the car for less than you owe on it, you will need to pay the balance of the loan out of your own pocket to the lender.
How can I sell my car while still making payments on it?
To sell a car while still making payments on it, you can either pay off the remaining balance before selling or transfer the loan to the new owner through a process called loan assumption. Be sure to check with your lender for specific requirements and steps to follow.
Can you sell a car that still has finance if you are going to pay the balance off with the profits?
Yes it is possible if the lender agrees to this. Talk to the lender and tell them what your plans are. They will have to provide a lien release in order for you to sell the vehicle. Another way is to take the funds from the sale, immediately pay off the loan and get the lien release. Then transfer the car into the buyers name. All this is Dependant on the buyer agreeing to let you do this.
Can a person sell their property while still owing money to the lender?
Yes. Normally you need to pay off the full balance at the time of closing. There are cases where the lender may accept less than you owe. If you feel like this is a situation you are in... Talk to a local Real Estate Agent about helping you with a "Short Sale".
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.
How can I effectively sell a car that I am currently financing?
To effectively sell a car that you are currently financing, you should first check with your lender to understand the payoff amount. Then, find a buyer who is willing to pay at least the payoff amount. Once you have a buyer, work with your lender to transfer the title and pay off the remaining balance. Make sure to provide all necessary documentation to the buyer and complete the sale legally and transparently.
