How do you sale your car if the bank still owns it ?????

Question

How do you sale your car if the bank still owns it ?????

Answer 1

Well you have to pay the car fully then you can sell it.

Answer 2

Find out exactly how much you owe on it. If you're able to sell the car for more than that amount, great. Go with your buyer to your bank and put in his check and they'll give you the title (call the bank to see how they want this done first) which you can sign over to the new buyer. Any extra money is yours. If the buyer is paying you less than what you owe, you'll have to make up the difference out of your own pocket before the car can be sold and the title transferred to the new buyer.

Answer 3

You can't sell what you don't own.  Read your question again.  

"...the bank still owns it..."

If you want to sell it, pay it off, then it will be yours to do as you please.

Answer 4

well  you  put  ur  car  for sale  if  u  r  selling it  to  a  private  party  you  need to  get  what  you  owe  on it  and  then  take  the  money  to the  bank  to  pay it  off  and  if ur  selling  it to  a  car  dealership  and  u  want  another  one  they  will  pay off  ur  loan  for  u  so  u  can get  another  car

Answer 5

you can't. unless you pay it off.

Answer 6

You essentially buy the car from the bank with the money that the new buyer pays you. The bank gives you the title, which you give to the new buyer.

Now, since it would be very unlikely that you sell the car for exactly the amount you owe the bank, one of two cases could exist:

1) You sell the car for MORE than you owe the bank. In this case, you use part of the buyer's money to pay off your loan and the remainder goes in your pocket.

2) You sell the car for LESS that you owe the bank. In this case, you must add some of your own cash to the buyer's money to fully pay off your bank loan, to get the title to give to the buyer.

So, you should find out how much you still owe the bank, and find out how much your car is worth if you sell it.

Answer 7

You sell your  interest in it, i.e. the part of the loan that has been paid. Expect to get only a  little money, though, because depreciation comes off the top, and you get only what's left over after the new owner pays off the loan or assumes the balance.

If you sell you at least avoid the rest of the debt.

Answer 8

Did you mean SELL?    You have to pay it off first.

Answer 9

The bank gets paid in full in that case.  You can pay the bank before you sell it, or you can depend on the buyer's money to pay it.  That's a little more complicated, but it can be done.