Overhaulin'

How should I advertise a car for sale that still has a loan on it?

I currently am making payments on a 2003 VW Jetta. I owe around $9,000 and it is worth right around the same amount. I want to sell the vehicle, because I have an alternate vehicle that I can drive and then I can pay off my current loan on the Jetta. Taking into consideration that I will have to have the potential buyer go to their bank with me and have their bank arrange to pay off my existing loan, should I include this in the advertisement for the car? I don't want to be mileading in my ad!!

Public Comments

1. Maybe say "take over payments" but there is a fee for this, I'm not sure what it is.
2. yes just to be strait on it i would include this in the add,the actual pay off though probably wont be that much on it,so id ask a little more than what i owed on it,this way you might get a little of what you have payed in to it back out of it,but i have sold one like this,i just ran it ,like will accept 500 above payoff or something like that,and it usually catches peoples eye,especially if their looking for a car like that one,check around,and actually see what those cars are selling for,you might actually come out ahead on it,good luck selling it.
3. Just advertise it on Craigslist as is with no warranty or guarantee by owner, except only cash or a cashiers check form a local bank or credit union, verify the check during business hour. if you want to to be nice buy a carfax report and state that on your listing. Suggest you ask 9,500.00 and sell at 9,000.00. Good Luck
4. When you advertise a car you sell features and history , don't get into liens as it my confuse buyer if not knowledgeable about buying a car and will simply skip your add. During negotiations if buyer is trying to low ball you, its then time to say you wont take less than $$$ because you have to pay out current lien to clear the title. It really is a simple process, get the exact payout and have buyer make certified funds to lender in this amount, and you keep balance or if negative you submit this amount to lender .