Can I sell a financed car for less than balance owed? Sell a car with bank lien on it?

April 12th, 2005 | by Michael |
sell car
kathryn319 asked:




DARREN

  1. 5 Responses to “Can I sell a financed car for less than balance owed? Sell a car with bank lien on it?”

  2. By Harley Lady on Apr 13, 2005 | Reply

    You will have to talk to the bank, but I have sold a truck and still owed money on it. If your credit is good, the bank will probably convert the balance into a personal loan.

  3. By sensible_man on Apr 15, 2005 | Reply

    Only way to sell it is to have the person buying it go to the lienholder with you and get approved to take over the balance of payments. The buyer cannot get the title (copy of) without doing this. No title equals no way to register it.

  4. By spamme4444 on Apr 18, 2005 | Reply

    Anything is negotiable. Al depends how good are you selling.

  5. By Patrick on Apr 19, 2005 | Reply

    You would need to contact the bank and let them know you want to sell the car. Once you have a buyer, andhave explained to them you have a lein on it, both of you go to the bank. You must pay them the difference between what you owe and what the buyer is paying for the car. They would then release the title to the buyer and you would have no further obligation to them.

  6. By Clairs on Apr 20, 2005 | Reply

    Hi,

    You can if the buyer is ready to bear the balance payment. When the lien is on, you can’t sell the car without bank’s knowledge. Visit for some useful info related to your query. Good luck!

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