Comments on: How can I sell my used 2005 car without the tile to my friend who is short on cash? http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash Best Used Car Prices – Buy Used Cars At Below Wholesale Prices Sun, 05 Sep 2010 23:14:08 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: carla b http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash/comment-page-1#comment-149 carla b Sat, 16 Jan 2010 04:14:03 +0000 http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash#comment-149 you cannot sell a car without a clear title., no matter who has good credit or not. If you did anyway, and he doesn't pay for it, the dealer will still demand from you the money, owed on the car.If he becomes deliquient and you don't pay up. this will destroy your name and credit and possible go to jail. you cannot sell a car without a clear title., no matter who has good credit or not. If you did anyway, and he doesn’t pay for it, the dealer will still demand from you the money, owed on the car.If he becomes deliquient and you don’t pay up. this will destroy your name and credit and possible go to jail.

]]> By: nadvanoot http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash/comment-page-1#comment-150 nadvanoot Sat, 16 Jan 2010 04:14:03 +0000 http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash#comment-150 You are just about to find yourself in a universe of hurt. I can plainly see it coming. First of all, it isn't legal unless the financier has agreed to transfer the loan into the other person's name, and that is the only legitimate way to do it. Otherwise, your friend could get you in all kinds of trouble if he/she decides not to make payments, and the loan is still in your name. Then you're very screwed. If he/she has good credit, then the bank will possibly do it, and you may make some outside arrangement with your friend to pay you a little extra, but it probably won't happen that way. Sometimes we get in over our heads. We've all done it. Chalk it up to a lesson learned, and move on. Good luck. Nad You are just about to find yourself in a universe of hurt. I can plainly see it coming.
First of all, it isn’t legal unless the financier has agreed to transfer the loan into the other person’s name, and that is the only legitimate way to do it.
Otherwise, your friend could get you in all kinds of trouble if he/she decides not to make payments, and the loan is still in your name. Then you’re very screwed.
If he/she has good credit, then the bank will possibly do it, and you may make some outside arrangement with your friend to pay you a little extra, but it probably won’t happen that way.
Sometimes we get in over our heads. We’ve all done it. Chalk it up to a lesson learned, and move on.
Good luck.

Nad

]]> By: CarMan http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash/comment-page-1#comment-151 CarMan Sat, 16 Jan 2010 04:14:03 +0000 http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash#comment-151 Your friend would have to go with you to your dealer, after he has gotten his loan and a check, use his check to pay off your loan, get the title on the spot, sign it over to your friend, have your friend pay you the extra $1000, and you're done. Your friend would have to go with you to your dealer, after he has gotten his loan and a check, use his check to pay off your loan, get the title on the spot, sign it over to your friend, have your friend pay you the extra $1000, and you’re done.

]]> By: Vegas Matt http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash/comment-page-1#comment-152 Vegas Matt Sat, 16 Jan 2010 04:14:03 +0000 http://www.best-used-car-prices.com/used-cars/138-how-can-i-sell-my-used-2005-car-without-the-tile-to-my-friend-who-is-short-on-cash#comment-152 It'll be a pain in the butt, but it's not a huge deal. Just have your friend go to his bank to get a car loan and explain the situation to them. Also, call the dealership and talk to the finance people there to find out what needs to be done, and to let them know what's going on. Between the 2 of them you should be able to figure out exactly what needs to be done, and nobody should have any problems with it as long as your friend gets the loan and you're prepared to pay the difference immediately. You should have no problem doing the same thing with a stranger as long as they can get a loan or have cash. Going through Carmax may be easier, but you'll only be getting the trade in value for the car, so you'll end up paying a lot more to cover the balance of the loan. It’ll be a pain in the butt, but it’s not a huge deal. Just have your friend go to his bank to get a car loan and explain the situation to them. Also, call the dealership and talk to the finance people there to find out what needs to be done, and to let them know what’s going on. Between the 2 of them you should be able to figure out exactly what needs to be done, and nobody should have any problems with it as long as your friend gets the loan and you’re prepared to pay the difference immediately. You should have no problem doing the same thing with a stranger as long as they can get a loan or have cash.

Going through Carmax may be easier, but you’ll only be getting the trade in value for the car, so you’ll end up paying a lot more to cover the balance of the loan.

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