Can I sell a car I am making payments on?

Yes, it’s possible to sell your car with payments left on the loan — even in a private party sale. Get your loan payoff balance. Enlist your lender in the sale. If you can, hold the sale at the bank that holds your loan.

What happens if you let someone make payments on your car?

“My cousin bought my car for $5,000 and I let him give me some payments every week once he got paid, but now he stopped paying and I don’t know what to do. He needs the car to get to work.”

Can you sell a car through installment payments?

Selling your car through installment payments only to someone you know well as being honest and trustworthy could lessen the chance of problems receiving payments. If you do not have proof of the buyer’s identity or address, he can disappear after making the initial payment. Tina Amo has been writing business-related content since 2006.

How much does it cost to sell a car to someone that stopped making payments?

The person gave be $100 down and then has only paid me an additional $200 for a paid total of $300. She is three weeks over payment dates and the final pay off is suppose to be 5/25/14, rapidly approaching. I have been in contact with her several times and finally she gave me the name and number to her step mom who has been less that cooperative.

Can you sell a car to someone you do not know?

If you do not have proof of the buyer’s identity or address, he can disappear after making the initial payment. Selling your car through installment payments only to someone you know well as being honest and trustworthy could lessen the chance of problems receiving payments.

Can you sell a car with payments left on it?

How To Sell Your Car When You Still Have Payments Left Yes, it’s possible to sell your car with payments left on the loan — even in a private party sale. The key is finding a patient buyer. Yes, it’s possible to sell your car with payments left on the loan — even in a private party sale. The key is finding a patient buyer. Credit Cards Close

What’s the best way to pay when selling a car?

To help with the sometimes tricky situation of payment when selling a car, consider all of the following possible payment scenarios. Cash is the safest form of payment. Or, as they say in the business, cash is king.

How to handle payment as a private vehicle seller?

If say you sold your used car for $11,500 you may not feel comfortable holding such a large amount. To mitigate the risk, have the buyer to meet at your bank. This way you can immediately deposit the cash upon receiving it. Accepting a personal check is not advised.

Can a buyer ask for a payment plan when selling a car?

If your buyer asks for a payment plan, just say no! You should never agree to a payment plan. This is an automatic red flag. Although you want to sell your car quickly, there are plenty of other buyers out there and will do so honestly without scamming you.