Overhaulin'

How do I sell a car privately that I still owe money on?

Is there a way I can sell the car and use that money to pay it off? How do I get the lien removed, so the buyer can buy a clear title from me? Paying the car off first is not an option because of the amount of money that I owe. in America

Public Comments

1. You and the buyer go to your bank, he pays them (or he pays you and you pay them), they help with the paperwork, he leaves with the proper documentation, and he gets the title after it's been processed. If he's financing the car, you do the same thing, but he needs to have already signed the loan papers at his bank. Then, his bank will wire the money to your bank, and your bank will see that his bank gets the title after it's been processed. It's all done at the same time, at the bank.
2. Depends on the buyer For example if you sell the car to a family member let them just pick up the payments and then hand over the title. the car off first is not an option then try refinancing it (lower your payments) or a trade in to the same dealer