-i have a car that im looking to sell, i will be able to get about 8 or 9k for it but i still owe 10k on the loan, is it possible to sell the car and use the money for purchasing a much cheaper car and keeping some of the remaining cash?No, if you sell the car, the new owner will need the title to register the car in their name. The only way to get the title is to pay the complete loan balance on the car. You do not own this car the bank does and you have to pay them back as agreed.
If the car is on a loan and your financing it through a bank then you don't own it. The bank owns it you havn't paid for it. If you took out a loan and then purchased the car with the cash then you can sell it and pay the loan later.
depends on your car loan if it is a credit agency you need their permission to sell the car as you don't own it until the final payment if it was a bank personal loan the debt is not on the car and you can do what you like , just keep repaying the loan
No you can't just spend the money. You have to pay off the loan first. You will need to pay a 1000 to 2000 dollars. Then once you pay that you can get a loan for a cheaper car.
没有评论:
发表评论