help selling car!

[redwings5]

if you are still paying payments how do you sell a car to someone and sign over the title?

[Gordon]

Depends on whether you're upside down on it.

If your selling price is more than the note on it, contact your lender and arrange for the transaction to occur at that bank/loan office. The buyer would fork over the money (sales price) in either cash or draft (if he is borrowing the money to buy it), you'd pay it off & keep the extra money, and the loan officer would satisfy the lien and hand the title to you, who would sign it over to the new owner. All three of you sitting at the same table.

If you owe more than it is worth or is selling for, you'll have to pony up the difference in order to get clear title. Same process as above, but you'd pay the shortfall.

If it is selling for less than the note (upside down) and you don't have the cash for the shortage, you have two options. Ask the loan officer if they'd give you an unsecured personal loan for the shortage (only if your credit is real good and the dollars aren't too much), OR you are out of luck and can't sell it.

A buyer surely would not buy it unless he can get clear title.

One final option - a "take over payment" sale, if the lender will permit it (buyer must have good credit). You, as seller, and the buyer would need to go together to the lender.

If not clear, post up whether the agreed sale price is more than or less than the pay-off, and I'll try to explain further.

[redwings5]

nope u got it gordon thanks bud