I own a 2003 PWP Type S with about 16k. The car has the Factory kit and evreything else is Stock. I owe the bank about $16k. I do not want to trade the car in to a dealership beacuse they always low ball me. Now, How do I sell the car to a private party if I still owe? What is the process? Who pays the bank? buyer/seller?

Any input is appreciated.

 

Im not 100% sure but I think you can just sell it to a private party for whatever amount you intend, and then pay the bank back with what you just recieved. I am not too informed on loans etc but I would imagine that the bank wouldnt care what you do with your car as long as you make payments/pay them off when they expect it. I would call the bank and ask. Either way, I hope it works out for you.

 

the person who is buying it will get a loan from their bank, you mail it in to your payoff, once you recieve the title you sign over the car to the new owner.

Did this with my Evo, got sick of stealers lowballing too

 

i believe you can sell it to another person where they take over your payment?

 

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You should pull 16K on a trade-in easily. Depending on where you live, you should/could probably get a little more.

 

I traded the car in for a db8 4dr GSR . I got 16.5k for the car at trade in (raped).

I needed a 4 dr and could not afford a TSX. Its a 96 with 68K miles. Reallly good shape, i love the car.

 

just like notec said.

the BUYER gets a check (whether personal or cashiers ) paid to your bank for the payoff ( the amount you owe left) the dealer/bank will then send you YOUR title now, and you sign it as the seller, and they sign it as the buyer. then you are all set. good luck!

 

Dammit....I might have taken a loan out to buy your car.....ohh well