can i sell my car if i owe the bank money?

• Feb 10, 2009

• #1

B

bksole

New member

Feb 10, 2009

1

0

1

can i sell my car if i still owe the bank about half the price of the car ?

 

• Feb 10, 2009

• #2

P

peteh

Member

Apr 6, 2008

32

0

6

Sure, but you need to know how much the car is worth if you sell it. Try kbb.com and nadaguides.com. If you sell the car for less than you still owe the bank, you'll have to come up with the difference in cash -- no more monthly payments if you sell.

 

• Feb 10, 2009

• #3

P

peteh

Member

Apr 6, 2008

32

0

6

Sure, but you need to know how much the car is worth if you sell it. Try kbb.com and nadaguides.com. If you sell the car for less than you still owe the bank, you'll have to come up with the difference in cash -- no more monthly payments if you sell.

 

• Feb 10, 2009

• #4

K

kenhebe20

Member

Apr 4, 2008

83

0

6

You cannot sell it to an individual, but you can trade it in at a dealership for something else.