Overhaulin'

I wanna sell my new Honda Civic for good and pay cash for a cheap car ,How do I do that?

I bought a Honda civic 2007 .. it was a dumb decision on my part cuz of my low credit score and Now i am stuck with a 425 dollar monthly payment . for the car. I wanna sell it and get it over with . People are telling me like " dude , you gona have to pay more than the car's worth " My plan is to just get this Car out of my head and just pay cash for an old car. And I don't care how much it's gona cost me or anything ..and in the process if it costs me less monthly then GREAT.. But i surely want this to be done ASAP. What do you think ? How do I go about doing that?..

Public Comments

1. unfortunately you are going to lose money because obviously the dealer charged an overhead. If you want to get rid of the thing, advertise advertise advertise. Try Craigslist.com
2. This one is real tricky, because you don't own the car, so you can't just sell it. The title is still held by the bank that you pay your $425 a month to. You probably already owe more than the car is worth (car value depreciates at a very high rate within the first 2 yrs you own it). You're not going to get anywhere near what you paid for the car. If you sell it, you will still owe the bank money, which they may require you pay off in a lump sum at the time you sell it, or you can try to refinance the rest of the money you owe and pay that off in installments (this probably will not happen - you said yourself you have bad credit). Your best bet is to keep paying on the car until you're not upside down on it anymore (you owe less than the car is worth), and then sell it. If you really want to sell it, try a private sale on craigslist or go to carmax and see what they will take for it. Private sales are tricky, and to get the title from the bank they may require the full excess payment in full along with the sale price of the vehicle (ie youll have to do it all in one day, with the person who wants to buy it). Good luck.
3. well first off, you're gonna LOSE a bunch of money. If you sell the car yourself, the bank is gonna take it out of your hide (they will make you pay 2-3 mnths extra for paying off the loan early. IF you manage to get enough to pay off the loan.). You have to get enough money to pay off the loan...(your car isn't worth that now.) If you've done anything to trick it up, the bank will ask you to take it all off and replace the original parts. (you bought the car as original and must sell it as such, as long as the bank owns it...and it still owns it, since it isn't paid off.) You don't have the title to the car. So unless the bank approves the sale, you can't sell the car. (you need the title to sell the car, it needs your signature on it to sell, and the signature of the buyer.) If you don't like the car, trade it in...you may lose some money, but less than if you try to do things yourself... May I suggest something..I don't know how old you are, but if you're so immature you make a decision on a whim, then hold off BUYING something of value, till you have a thought...buying a car is NOT something most people take lightly...
4. Okay, your decision is reasonable. Now do the homework. First, check the fine print of the purchase loan agreement -- can you get out of it, what are the costs? Second, check online and on foot, how much can you get for the car when you sell it. How much is the loan payoff. What is the difference you are going to owe to get out of the deal? Third, can you afford the difference plus $2000 or whatever for a replacement car (if you need a replacement car)? If yes, it's a no brainer -- do it. If not, implement an immediate plan of action to get there as soon as you can.