Overhaulin'

How to best sell a car with a lien?

I'd like to sell my car which is a 2009 Impreza. I have a lien through JP Chase. I have some negative equity, but I'm not that worried about that part. I can pay that off at anytime. Now my question is would I be better of trying to trade the car in to a dealership, or should I try to sell it private party? When I called chase they said I could pay off the negative equity, have someone pay the balance, and then they would send the title to the person. This really doesn't really seem feasible... Is there a simpler way that maybe I don't know about? Thanks in advance to anyone who post a reasonable response.

Public Comments

1. Can you just sell the lien seperately to a zoo?
2. Seems the bank would know more about what is feasible than you. All the bank cares is getting their money. They have the title to the car in hand. Give them the payoff and they'll send you the title. Lots of people do this. Trading the car will result in less money paid to you but you won't have to worry about the process, the dealer will handle it. Selling it privately puts more money in your pocket, but the hassle factor increases. Also, you need to find a buyer who has the cash to buy your car, or who has a loan ready to go. Most people don't; newish late model cars are hard to sell privately unless the price is really low. CLIFF NOTES Trade in - less money, less hassle, no worries about finding a buyer Private sale - More money, more hassle, got to find someone who has money to buy your car. Good luck!
3. Chase Bank told you the right stuff .. and this is one way to sell the ride ...the easeir and quicker way is to go to a dealer and try to trade and they will rollover the negative part into a new loan ... anyway you just gotta go to the dealerships and see which one will give you the best price and the most $$$ś for your car vs. the new loan and purchase.. best luck for new deal ... go talk
4. You aren't likely to find someone who can pay cash for the Subaru If you find a private party who is willing to buy, have their bank settle with Chase....you will still need to pay the difference on the note.... If you decide to trade for a different car, pay cash for the difference between the note, and what they give you as trade in....other wise they will tack it on to the back of the new note... and you will be upside down the next time too..even more than you are now.....