Bought a car in december want to sell it to get a car better on gas?

Question

Hi, I just got a 2003 saturn vue in December. I really would like to sell it to someone and buy a better car on gas. maybe a hibrid. Anyway I am financing this car and the total came out to approx. $17000. I put $1000 down, and my monthy payments have been $340. Is there anyway I could sell the car even though I am still paying for it so i can buy a better one?? Thank you

Answer 1

Sure of course.

You basically have to do a 3 way transaction at the bank office. Each state and loan company has different procedure so call them about their own rules and procedure.

Then you find a buyer and when you are ready to do the deal go to the bank and they will take the money and then release the title (you get any money left over).

If you are upside down on the loan (owe more than the value of the car), you have to pony up the difference.

Good Luck...

Answer 2

You overpaid for the Vue and this is going to hurt you.  Even if you buy a hybrid, you are going to upside-down, which will raise your payments, dramatically.

You won't save more money in gas each month than the difference in the monthly payments, so the best option, financially, is to keep the Vue.

Answer 3

Easy on the pedal on take off and change the air filter every 12,000 miles. DOn't use other than the recommended gasoline type too high of octane can actually make your vehicle less efficient on the next fill up if is other than high octane. Drive your vehicle at speed limit's and I guarantee that you will save at least 10% or more on gas. Keep the air on your tires at 1psi less than the maximum recommended. Don't carry unnecessary stuff on your vehicle that would add uneven weight, if you do balance the weight and take it easier on the pedal when you do have additional weight allowing the vehicle to deliver power without wasting fuel. A vehicle can be as efficient at its maximum payload as it is empty that is how it was designed is just that the greater the load the slower you should be taking off from a stop to make it as efficient as possible.

Answer 4

CErtainly. Check the values on kbb.com

Answer 5

Ok, no offense, but you paid way too much for that car. You can sell it but your not going to get what you owe on it. This is what the car is worth, with only 50,000 miles on it. 11,000

http://www.kbb.com/KBB/UsedCars/PricingR...

You are way upside down on this car. I believe you need to pay extra payments and finish out the loan as much as possible. This well help with your credit score also. \

You can sell it but you're looking at selling it around 10000 dollars if it has low mileage, and you still have to come up with 7000 to pay it off. If you trade it in, you get 4,000 average below retail. so your only going to get 6,000 dollars for a trade in vehicle and have to put 11,0000 dollars on top of your new car. Your payments would more than double. Then gas wouldn't be saving you no matter how good gas mileage you have.

I'm sorry, but you seriously need to make double payments and get the car payed off as soon as possible.

Answer 6

Saturn is ok already...I wouldn't go through the trouble of selling it and picking up a hybrid those are pretty pricey...and your payment / month will go way up even if you're saving a buck or two at the gas pumps........