Looking to sell my car since I will most likely be moving to a city where a car is not needed?

As far as I know, when you sell the car you just pay off the loan you have with the money you get for the car. If you had any questions I'm sure the loan company would be able to explain any details.

Go to Kellybluebook.com and find out what your car is worth retail. Hopefully you can sell the car for that price or more. If you get the amount from the buyer that you owe the bank, you take the money from the buyer to the bank and satisfy the loan.If you get less than what you owe, YOU are responsible for the balance owed to the bank. Now if you and the buyer agree to a price that is more than you owe to the bank, get the check from him/her and settle with the bank alone. Either way you will have to settle with the bank because they hold the title to the car and they will have to sign the ownership certificate (pink). Another way is to have the buyer take over payments. This will have to be approved by the bank also.

your car payment book should have a payoff amount on it. if not then call your financier to find out what the payoff is. you ill need to sell it for more than this amount to at least break even. they will remit the title to you after they receive the payment and then you can sign the title off and give it to the purchaser. you will need to tell the purchaser about the situation usually you have thirty days depending on the state to remit the title to the new owner. be sure to giver the new owner a bill of sale on the day you sell it. but, do not allow them to run your tags until this happens. also make sure they get insurance as if they wreck the car it could come back to you until they tag it.

If you are upside down on your loan (owe more than the car can be sold for), you would have to add extra cash after the sale to pay off your loan. The loan must be paid off before you can give title to the buyer.

Check with your bank on your loan balance. Then check www.kbb.com and www.nadaguides.com to find out how much your car is worth.

See the following website for more details:

http://www.used-car-advisor.com/sell-used-car.htm

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