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Asked: Feb 16, 2008 - 02:54 PM

Status: Closed

Is there a way to sell your car and carry over some of the neg equity to a new one - without trading in

In other words - Is there a way to sell the car to an individual to get the best price for your car and then go an buy another car from a dealer and carry over your negative equity into the new one. Thus you are not having the only option of having to trade into a dealer, which stuck with what ever they want to give you.

In Buying & Selling > Car Financing
3 answers - 622 days ago

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kiawah

Date: Feb 17, 2008
Time: 10:49 PM

No.

You need to have clear title to sell it to someone....which means you have to pay it off (whatever you owe), to get the title.

avatar

ultimix

Date: Feb 17, 2008
Time: 10:54 PM

thanks for the answer. Is it possible to sell the car myself, then take out a loan to get the title, then when I go to buy the new car - but the loan that I tookout and roll it into the carloan??

Or is this just a stupid idea?

avatar

joel0622

Date: Mar 14, 2008
Time: 09:27 AM

Well, that depends. You could actually ask the dealer to add $XXX to the selling price and cut that check directly back to you which in turn you could use to pay off the trade.

You could also ask a dealer to do a bill through. You bring the car you are selling and the buyer to the dealer. The show the car as a trade with the pay off and then immediately sell it to the buyer you have with you. they may still charge a doc fee to do the paper work but depending on the state you live in it may save you some tax so in turn you could lower your selling price to the buyer by the amount of the doc fee.

Also takes you out of the loop of getting the title, the dealer will send the pay off and issue your buyer a drive out tag and then send the title to them when they get it.

It is all just a matter of weather your dealer wants to do it or not.

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