selling a car to carmax and I still owe on it. i bought a hyundai accent 2 years ago and I still owe.?

Whenever you try to trade in a car like this they will BRUTALIZE you with the trade in value. I would expect 5-6k so you're going to have to pay an extra 6k or so to the finance company to settle the note. You do it when you trade the car in not after. They might roll it into the loan on the new car but you'd be in a bad finance situation again and carmax doesn't actually have CHEAP financing.

Sorry, but you will be unable to sell this car. You can't sell it unless the title shows your free and clear ownership of it. As long as the bank is listed on the title as a lien holder the car is legally theirs. To sell it, you have to pay them off and get them off the title first.

Your options are to get somebody to take over the payments (which no one will do for a 2 year old Hyaundai Accent with a high monthly note), or trade it (which will eventually cost you much more no matter how the salesman tries to spin it), or get another job and pay off the loan balance early to avoid the interest costs over the rest of the original contract period for the loan (assuming this is a simple interest loan that doesn't have a prepayment penalty clause, an early payoff will reduce the overall amount that you pay for the car ). You could also do a voluntary repo and give the car back to the bank, but you've already said you don't want to do that. Your best bet is to find a way to get additional income and do a payoff.

The ONLY way you can sell it is if you can sell it for equal to or more than you owe.

If you owe more than its worth you have to pay it down until you can. And car prices continue to depreciate so an offer today would likely be much less in 6 months.

Time to look into a 2nd & 3rd job.

You very likely owe many thousands more than carmax would offer.

Perhaps $4000-8000 more. Unless you can come up with the difference, you cant sell it. Period.

Selling Car At Carmax

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Carmax Trade In

Let them come and reposes it. Tell them you can no longer afford the payments and it was a mistake that you let someone sell you a new car you could not afford. Car-max can not buy the car unless you can give then CLEAN title. Until the loan is paid off you cannot get clean title. .

How the heck could you still owe that much on that car? My daughter bought a Handi Accent for only about 10,000 and it it all paid off. She made extra payments.. principal only.

After you get rid of this car buy a used car for about 3000 -- no more and borrow from a bank or credit union. Have someone with a GOOD credit rating co-sign if you need to borrow part of the 3000.

People have to learn ... Buy only what you can afford and after you max out on your ira savings.. Get a good education and that will lead to a better paying job.

I don't see how you can sell the car if you don't actually own it outright and don't have the title for the car.

you can't sell it without the title.

I want to find out more about this too

Can you elaborate?