Switching out cars

[themisfit610]

Hey guys,

Quick question -

I recently bought an '03 Infiniti G35 Sedan, and I really like it, but there are a couple problems with comfort, which are inherent to the car.

I'm not 100% sure if I want to keep the car, and some maintenance is pending.

The only real issue is financing. How the hell do I buy a different car without the current loan being paid off?

My credit is good, but not extensive. I was only able to finance 9k out of the 10.5k price - so the prospect of getting a second car loan are low at best.

I'm sure I could sell the car for what I paid (or a tad more, I bargained heavily), so my total loss would be pretty low.

Obviously, I could use it as a trade-in at a dealership, albeit with a significant loss.

Whaddaya think?

~MiSfit

 

[Chunkee]

sell car. buy other car to suit your liking. payoff old loan. get new loan.

 

[radioouman]

If you decide to trade it in, a dealer can take all of the pain out of this process. If you want to sell it, then you will need to call whoever has your loan and tell them that you want to sell it. If it is a local bank, it might just be as easy as taking the buyer to the bank with you so the bank can hand over the title, and they can take the money to pay off the loan. Also, they can notorize the title so that it can be transfered, if you live in a state that requires a notory for transfer of title.

Otherwise, just call them and ask.

 

[themisfit610]

sell car. buy other car to suit your liking. payoff old loan. get new loan.

Makes sense, but the details.

1) Sell car - easy enough. Let's say I get a cool $11k for my car
2) Now what? I don't have a car, and I need to get to work. How do I go about financing another car while waiting for the loan repayment to go through?

~MiSfit