How do you sell a car?

[DarrylLicke]

Need to get rid of my car and I have no clue what to do. I also still owe on the loan. Anyone ever sold a car before?

 

[notfred]

Put an ad in the paper and/or websites like autotrader.com When people call you, show them the car, and hope they offer to buy it. When they buy it, you take thier money, and give them the car and the pink slip, which you have to sign over to them.

 

[vi edit]

1. Check www.autotrader.com for the going rates of cars of your particular make/model/year in your area
2. Call the institution that has the loan and find out your payoff for the next 15 days or so.
3. Figure out what the difference is between your payoff amount and what your car is worth. If it's huge, and you can't afford the difference, then you are SOL.
4. Place an add in the local newspaper, in autotrader, and put a FS sticker in your car with a phone number and vital info
5. Wait.

6. If and when you get a buyer that agrees to buy the car, be sure to write up a purchase agreement stating what's for sale, for what amount, and that it is sold "AS IS". Have both parties sign two seperate purchase agreements, one for buyer, one for seller.
7. Have buyer get a certified check from bank or credit union for purchase amount, have check payable to the bank that holds the loan.
8. Have both buyer and seller go to bank that holds loan and pay off loan. If you have a balance still due, even after purchase amount, you'll need to have a certifed check as well to make up the difference.
9. Have bank close out loan, and retrieve title. If the bank had a loan out on the car, chances are good they have the title.
10. Sign over the title.
11. Sign over registration.
12. Buyer should then go to courthouse and pay sales tax and get new plates & registration.

In a nutshell anyway

 

[kranky]

Do you owe more on the loan than you can get for your car?

 

[DarrylLicke]

As far as I know no but I still need to check. Bluebook says I should be able to get $15k for the car (98 honda accord ex). Well actually $16.5 but with cosmetic damage to bumpers (city living) I figured that'd drop about $1500. Going to call bank today. I'm hoping I can make some sort of profit on this....or at least get back the $4k I put down on it. Losing your job is a pain in the ass....but 20/20 hindsight....this car should of been sold last September when I was on unemployment for for 5 months and had no job prospects. Crossing fingers....

 

[DarrylLicke]

wow.......exactly what I needed.

 

[phatcow]

newspaper

 

[Thegonagle]

Ha ha, I'm usually the last owner, so I only know how to buy 'em cheap, beat 'em into the ground, and then junk 'em.

Just be sure to get all their current information, so you know who to blame in case they start racking up parking tickets, or get in a hit and run.

And only take cash or a cashier?s check from the bank. A personal check is only an IOU, so no personal checks.