Overhaulin'

How can you feasibly sell a car with a loan payment pending?

Dear Yahoo folks, I have 2003 Honda CR-V, outstanding and looks just as new, with low mileage. I might be moving or other personal reasons, otherwise I will not sell this great crv. I want to sell it, but I am still making payments on a car loan?. Any suggestions to go about?.

Public Comments

1. You can see if your lender will be willing to transfer payments to a new buyer who would first have to qualify for the loan themselves. Or you can get a bank loan to pay off the auto loan so you can get the title before you sell the car because most people buying a used car will want to get their hands on the title to protect themselves.
2. The only way to sell this car to another party and get yourself out from the payments, is to sell the car for what you currently owe on the car. You call the lien holder and ask them what is the payoff on the car and they tell you. If for some reason you owe more than what the car is worth, your stuck as you cant sell an automobile you dont own. Good Luck