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Couple questions about selling my car

7six2

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I'm probably going to put my car up for sale soon. How does the transfer work if I sell to another individual for less than what I actually owe? All of the cars I've ever sold didn't have any balance remaining so this is new territory for me.

Also, the only mod I've done is aftermarket mufflers, but I kept the factory mufflers in my attic. Would the aftermarket ones turn off enough prospective buyers that I should put the originals back on? And what are good channels these days for advertising...Craigslist?...Autotrader?
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Omega

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If you sell it for less, your bank will make you pay the difference before they release the title.

I don't think that exhaust would hurt you, but if you have the stock, you could put it on and sell then aftermarket and put a little more money in your pocket.

You'll probably get more money if you separate any aftermarket parts and sell that way.
 
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7six2

7six2

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If you sell it for less, your bank will make you pay the difference before they release the title.

I don't think that exhaust would hurt you, but if you have the stock, you could put it on and sell then aftermarket and put a little more money in your pocket.

You'll probably get more money if you separate any aftermarket parts and sell that way.
That's a good point about the mods.
I've read that if the lender is local then the buyer and seller would go together to the lender for the transaction but I don't think the bank I financed through is local.
 

MX5Racer

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Just make it clear to the buyer you DO NOT have a clear title! This will be the biggest hurdle for you. If it were me buying, I would ask how much you owe and how are you going to pay the balance. I would not take a chance giving money to a private seller who owes more than he's selling it for.
 

MELLOWYELLOW06

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Find out what the difference between the selling price and your loan balance is. Go with the buyer to your bank and get a cashiers check for that amount. With the buyer, FEDEX the buyers cashiers check and your cashiers check for the difference, to your lender for payoff. That will insure he/she sent in the money and he/she will be insured that the payoff was sent in. At that point you guys can settle the rest.
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