Selling a Car With a Loan: Processes and Options
When you have a car loan, the process of selling your car and paying off the loan becomes more complicated. You will need to contact your lender to find out what their process is for pay-off. You may also need to get a payoff quote from them in order to provide to the buyer of your car. If you are upside down on your loan, meaning you owe more than the car is worth, you may have to negotiate with the buyer to pay that difference off as well. Another option is to trade in your car at a dealership which can then pay off your loan and you can use that money as a down payment towards a new vehicle.
The Law Offices of the Omar Zambrano has helped thousands of people and businesses in the past to get out of the debt and start over.
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