I'm selling a car to a private buyer and just looking for what have to be done. We're selling it for $16k and we still owe $19k. Is there any type of contract that has to be signed? Also, we financed our vehicle through the bank. The person buying it will also be financing it. How do the payments work out? Will their hill make a payment to us or our mound? Any advice, suggestions, etc will be appreciated! Thanks!
It would be best to contact the lender and check with them so that you don't make any mistakes.
Answers: Their bank will cut them a check, which they can sign over to you, or write you their own check after they desposit it. Then, they reimburse you the $16k. Then, you pay your lender the $16k. You will still owe your lender $3k. Why you would do this, I don't know. But that's how it works. ALSO, you won't get the title for this vehicle until your loan is compensated off. So, I really don't think this concordat will work. Contact your lender.
It would be best to contact the lender and check with them so that you don't make any mistakes.
How much do the modifications come out...
It would be best to contact the lender and check with them so that you don't make any mistakes.
Advice on selling (w reg) scenic 1.4...
Answers: Their bank will cut them a check, which they can sign over to you, or write you their own check after they desposit it. Then, they reimburse you the $16k. Then, you pay your lender the $16k. You will still owe your lender $3k. Why you would do this, I don't know. But that's how it works. ALSO, you won't get the title for this vehicle until your loan is compensated off. So, I really don't think this concordat will work. Contact your lender.
It would be best to contact the lender and check with them so that you don't make any mistakes.
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