Selling a car that you are still making payments on?

[BaddAss93TA]

Im considering selling my '05 Jetta GLI but im still making payments on it so I do not have the title. If was were to sell it private party what would the procedure be? I've never done such a thing before?

thanks ahead of time

[Stroked96Bowtie]

Probably the cleanest way to do it is have them take over the loan through thier own financial institution. This gets it out of your name and keeps the payments off your back.

If you are upside down on it, you will sell the car and still be making the payment...in this case might be best to trade it in that way your new car will take whats left of the VW.

Do you have another car you want or just dont want to do the payment thing anymore?

[Fastbird]

Im considering selling my '05 Jetta GLI but im still making payments on it so I do not have the title. If was were to sell it private party what would the procedure be? I've never done such a thing before?

thanks ahead of time


Been there done that. What happens is that the proceeds from the purchaser go directly to your leinholder who then disperses any residual (read equity) to you after your loan is satisfied. It's not a difficult thing to do at all.

So what are you looking at??? Still doing the sell the T/A and GLI and get a xxxx???

[BaddAss93TA]

not really sure what i want to do yet honestly. i change my mind every day. haha.

blue book on the car is 13.5k and the pay off is just under 12k so im not really upside down on it but i will probably sell the car for the pay off and just be done with the payments. payments suck haha

[KissMyWhtSS]

have them pay off, get lien removed, send them title.

when I got my SS the previous owner owed ~90% of the purchase price on it. We went to the bank, I handed him the balance on the car (minus the deposit I had given him) and he gave all but a couple hundred bucks to the banker and she gave me a lien release, title, and bill of sale.