Travel Budget, Money Matters, Financial Talk Mom, can I borrow ten grand?! Gimme yo mastercard! How the heck can I pay for my trip?! Ideas for making money. How much dough do I need?
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04-29-2005, 09:22 AM
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#1
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any one have experience here? autotrader.com? or vehix.com? or just a sign in the window....whats the best way?
also, i still owe on it so how the hell does that work out?
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04-29-2005, 09:38 AM
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#2
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Is there a lien on the car? or is the loan seperate?
Having a lien on your car can make it ALOT harder to get rid of. Basically the person buying it has to trust that you will take the money and pay it off. Otherwise I believe the person buying it will be responsible for the money owing.
Example;
You finance a 50,000 BMW. Turn around, sell it for whatever then run away to Mexico. The person who just paid you for the car is now responsible for the payments. So they've just dropped X amount of dollars for this car but now have to pay for the rest of the financing.
You can also try to have someone take over the payments for the car and give you some cash that will cover how much you've paid thus far.
Savvy?
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I've been a wild rover for many's the year,
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But now I'm returning with gold in great store,
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04-29-2005, 09:42 AM
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#3
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gotcha..hell, i'd be happy w/them taking the payments...just may need to get rid of it and off my back...thanx for the info
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04-29-2005, 10:19 AM
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#4
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Maybe an escrow account makes this easier? That way the others don't feel like there is a risk in buying?
SuDZ
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04-29-2005, 10:27 AM
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#5
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Quote:
Originally posted by SuDz@Apr 29 2005, 10:18 AM
Maybe an escrow account makes this easier?
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Can you get one for selling a car? I thought it was more for selling homes. I'm not really that familiar with them though.
__________________
I've been a wild rover for many's the year,
And I've spent all me money on whiskey and beer.
But now I'm returning with gold in great store,
And I never will play the wild rover no more
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04-29-2005, 10:33 AM
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#6
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nice sudz...good idea....i will check this out... 
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04-29-2005, 11:45 AM
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#7
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Carmax is not a bad place to sell your car, or at least get it appraised for free. It kinda gives you an estimate on how much your car is worth when seeling indepently.
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04-29-2005, 12:59 PM
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#8
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Quote:
Originally posted by pinion+Apr 29 2005, 12:26 PM--><div class='quotetop'>QUOTE(pinion @ Apr 29 2005, 12:26 PM)</div>
Quote:
@Apr 29 2005, 10:18 AM
Maybe an escrow account makes this easier?
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Can you get one for selling a car? I thought it was more for selling homes. I'm not really that familiar with them though. [/b]
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Well you figure this isn't just a deal between buyer and seller. The bank is the third party in this and the bank wants to make sure it gets it's money as well. I am sure they have something in place to make sure they are not left in the cold.
Will the price of selling the car cover what you owe? Cause if your upside down on the loan you will still be left to pay the difference. ie if the car sells for 10K and you owe 12K to the bank, your still on the hook for 2K.
SuDZ
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SuDZ > We recycle our scummyness.
SuDZ > Thats just plain good for the environment.
Rozza > lol
Rozza > yeah
Rozza > that should be your sig
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04-29-2005, 05:02 PM
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#9
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the easiest thing to do in your case is talk to the bank that financed the car. I'll bet that they have a procedure in place for just this case... I don't think that you are the first person to sell a car that you still owed on. 
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04-29-2005, 06:13 PM
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#10
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I'm lovin' all the help!!! yes, the sale would cover the lien. I should give them there bankers a ring a ding ding...thanx every1 
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04-30-2005, 07:10 AM
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#11
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You could always use the car and make drug runs to mexico. Once you have enough money to get out of the debt then sell the evidance, i mean car. Just an idea...
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04-30-2005, 10:47 AM
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#12
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yeah, i thought about that  but being that i may need to sell it becaue i won't be on this continent any more it wouldnt really work 
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04-30-2005, 01:29 PM
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#13
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Woohoo perfect topic for me. I am in the same boat. We have a lien on my car and I have to sell it in a few weeks here. I plan on listing it in the classifieds. Everything sells in the classifieds. 
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~~ Jamie ~~
You give me the most gorgeous sleep That I've ever had And when it's really bad I guess it's not that bad
Have some general questions such as whether or not to get a rail pass or how much money you'll need? Visit here!
First time travelers/travelers with a lot of questions - this forum is for you![b]
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04-30-2005, 01:44 PM
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#14
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lemme know how it goes jamie...i'll give ya any info i find out as well
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04-30-2005, 03:03 PM
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#15
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You should just set your cars on fire & say it was like that when you got it
__________________
I've been a wild rover for many's the year,
And I've spent all me money on whiskey and beer.
But now I'm returning with gold in great store,
And I never will play the wild rover no more
|
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|
|
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04-30-2005, 03:17 PM
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#16
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thank you for your 2 cents mr. soprano 
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04-30-2005, 03:35 PM
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#17
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My guess is if you talk to the bank, they could schedule a closing at the bank, for you and the prospective buyer. The buyer has two checks, one to pay off the balance you owe to the bank and the other one for you (assuming you are making anything). That way, the bank can give the title to the new owners as well.....which they will want. Good luck and let us know all how it turns out!
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05-01-2005, 11:29 AM
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#18
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Good idea LFOD. I suppose I should get on that soon.
Will let you know what happens - I'll probably be listing it in the next week or two.  I love my car. It's been so good to me. Stupid Europe! 
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You should just set your cars on fire & say it was like that when you got it
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Haha too bad I don't have insurance.
__________________
~~ Jamie ~~
You give me the most gorgeous sleep That I've ever had And when it's really bad I guess it's not that bad
Have some general questions such as whether or not to get a rail pass or how much money you'll need? Visit here!
First time travelers/travelers with a lot of questions - this forum is for you![b]
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