nycgps

iTrader: (1)

I have a Honda FIT, I need to sell it (cuz GF said now she hates it ... and keep bugging me everyday ... Im about to ditch for that ... grr )

I still own Honda finanacing about 10 grand. so If Im gonna sell it. how should I ?

Should I pay the amount off and sell it for the total amount or ?

List the car as "selling it at 5K, still has 10K loan" ?

First time selling a car. Help !

And dont tell me to search ! No such info ever exist on this site :P

ZoomZoomH

iTrader: (1)

yeaaah selling car with existing loan is gonna be kinda hard

good luck with that :P

nycgps

iTrader: (1)

So u're saying I should pay it off first b4 selling it ?

DailyDriver2k5

Yeah nycgps , your better off paying it off first then selling it outright.
Or option two, sell it with the option of assuming the rest of the loan.

In your ad, you could put ,asking 2500 down and take over payments.

If the person is interested, they would have to qualify to assume your existing loan on the vehicle.Or they can get there own financing.

reaper1

Get rid of GF and Car .......

just4rx8

i have had the same problem too with my car and u probably have to sell it and get the money to pay the bank and explain to the buyer they might have to wait a couple of weeks to get the title

just4rx8

does anyboy know where to get a cheap supercharger for rx8 or i am thinking turbocharger but the whole turbo process is too overrated thats why i am thinking if i shouldopt for a supercharger instead and does either of it make ur already terrible gas mileage worse

dillsrotary

I would post in a completely random thread that has nothing to do with superchargers/turbochargers, that'll get the most info. Just4rx8 there is tons of info here, search the major HP sections

NYCGPS let me know how your situation pans out, i'll be selling my 8 soon and in the same way.

just4rx8

thank alot for the treatment lol lol lol dillsrotary

DailyDriver2k5

If I were you Nycgps, i would hold onto that car , with rumors that gas may be going way up by summer, your going to wish you never sold that car.

If you can try to convince your girlfriend to be patient, maybe you and her can afford a really nice used car in the future and keep the Fit as a gas car.

superglue

Just sold my car owing a ton of money on it.

1) I listed the car for what I thought I could get for it
2) Got a seperate loan to cover the remainder of the auto loan
3) Found a buyer, sold them the car and signed an agreement stating that I will sign over the title when I get it in the mail.


However, if you have the capacity to pay off that loan and get the title, do it. It makes the process so much easier for the potential buyer.

rx 8speciale

iTrader: (3)

easy .. . go with the buyer to your bank and pay the loan with the buyers checking or loan aproval... have the bank give you a letter of release saying that the car was pay off . then go to registration and show them that letter and do a transfer ..... thats how i bought my rx8 .. hope that helps

CyberPitz

This. It would be easiest if you could pay the car off first then sell it. It would prevent any more interest from building, at least

YaXMaNGTO

I'd hate to sell a car you're upside down on... what's the interest rate on the loan? Might factor it into your decision. Unless you have money sitting in your checking account, I'm thinking hold on to it also. Get it paid down to the point that it's even, then get rid of it. That would be debt your assuming that you didn't get **** for... like you threw it out the window, and you have to pay it back.

F' that.

RK

iTrader: (1)

Search n00b!

Can't believe no one did that yet.

nycgps

iTrader: (1)

Biggest reason is that she wants ANOTHER car ...

Will do.

its 4%, pretty low. but lots of "budget" cars are going for 0% apr + cash back and stuff. so.

STFU !

no one ever asked this, Im sure.

m477

Don't sell it just because the gf is making you... I've seen too many dudes go down this path, and lemme tell you, it isn't pretty. Before you know it, you are signing off every paycheck to her, and your ***** are locked up in a frilly pink box gathering dust in her hall closet.

Razz1

Trade it in on a another Honda.

nycgps

iTrader: (1)

she paid parts of it too. its like co-ownership.

She doesnt really like it in the first place. She wants it blue, I have it in Orange. She wants Auto, I want Manual.

She has been lazy as hell to learn to drive a stick. so I was like **** it. just sell it and get Auto (I know I know ...) with another color and Brand. not like Honda is bad. but I think she wants a Mazda 3 more

Dont you lose the "most" money going this way ? when comparing to private party sell.

VikingDJ

It's really best to pay it off and then sell it, if you can. You will lose more potential buyers if you try selling it as a loan, but attract more buyers that will pay outright for the car, and don't want financing.

Then again, if you have the money to pay it off, you shouldn't be financing unless your bank account is earning more interest then what you lose on paying interest on the car loan. Just some added financial advice there.

Good luck to ya.

nycgps

iTrader: (1)

I can pay it off, reason I didnt is that, I would rather have the money in my hand in case of the emergency. who knows what will happen down the road you know?

Hmm ... I will see what I can do. Thanks a lot guys

pdxhak

iTrader: (2)

I bought and sold a car with a balance over the summer. The process is fairly easy but somewhat involved.

Who ever buys your car will have their financing people contact your bank to make arrangements for payoff. You will need to let you bank know who will be contacting them and provide authorization. Once your bank receives the money, they will release the title. Both parties sign the back of the title.

After the title transfer is complete, be sure to go the DMV to let them know the car has been sold to someone else.

It takes about a week so both parties need to be patient.

tsxmidship

When i bought my RX8, the previous owner still had a lien on it. We went to the bank where the lien was held and I paid the previous owner the agreed amount. He then paid off the loan right there, thereby releasing the lien.

The title was held upstairs at the bank, so we both waited for the bank to bring the title downstairs to us. The previous owner then signed the title over to me.

If you choose to use this method, make sure you go to the correct branch of the bank where the title is physically held(call and ask).

nycgps

iTrader: (1)

No bank branch to go, its Honda Financing

I will most likely just pay it off first b4 I sell it. I could go do a trade ins but I think I will lose at least another thousand bux from doing so(dealership will lowball you)

*sigh*, I hate buying/selling cars now

pdxhak

iTrader: (2)

Both of my transactions were with banks in other states which is why it took a week to complete the deal. Just try to sell it yourself and see what happens.