Selling a car that is on finance?

I purchased a car on finance which I am now getting bored with. I have payed at least 25-50% of the loan. Now I want to sell this car, but not by tricking some one. Say $10000 was oweing on the car, And I am willing to sell the car for this amount, do I just get them to write the cheque out to the finance company for $10000?

This way the car is then fully paid for and then transfered to them?

Selling a car that is on finance?

You can have them write a check out to the finance company for the amount owed on it. However, the title will come to you free and clear of all liens. Also, the new owner will not be able to register it until you have received the title from the finance company because you need a title to sign to be able to transfer tags and pay your state taxes and fees. It is a tricky situation, but it can be done. Most of risk doesn%26#039;t involve you, it involves the person buying the car due to you getting the title. Good luck!

Selling a car that is on finance?

You cannot sell the car unless you own the title,it is not yours to sell,that is illegal.

Pay off the car first and then sell it.

Selling a car that is on finance?

no no.... just say the car is 10,000... then pay off the rest of the loan, that way you get points for your credit... then transfer ownership.

Selling a car that is on finance?

I think you would have to work it out with the finance company. It seems to me that if the car isn%26#039;t fully paid for you%26#039;re selling something that you don%26#039;t own. This could lead to messy situations and nebulous ownership of the car.

Selling a car that is on finance?

If you just want to sell it and not make any profit, then do a transfer of the loan. The bank can set it up.

Selling a car that is on finance?

I have bought and sold over 30 cars in my life and these are the facts. Yes you can sell the car for 10,000 or whatever as long as you pay off the car. but the new owner has to be willing to trust you, because once the loan is paid off the title will come to you. Then you will have to sign it over to him.

The easiest way to sell the car would be to have him go to the place you have it financed and apply for a loan to buy the car. then it%26#039;s just a matter of the loan company canceling your loan and starting his.

Selling a car that is on finance?

You can sell the car for the amount owed and you make sure that you give them a Bill of Sale that includes the info. about the car and the amount paid. Have it notorized and then the finance company will have the title issue settled and the buyer will have proof of sale with the bill of sale.,,,,,Or, you can pay off the vehicle, have the title sent to you, then advertise and sell the vehicle. But a bill of sale is still a good idea.