I need to sell my car, but I still owe...help? (2007)

[saturnfan]

Many buyers will not trust you. That's the hitch.

Much easier if financed by a local bank.

[JJingle]

Originally Posted by kelly237

Carmax offers have always come in well below what we ended up
selling to a private buyer . The hassle of selling was worth the extra
$ to us.

The loan company/bank that is holding the title is exactly who you need to talk to to find out the payoff to the penny(the day of purchase)
and how to assure that the loan payment and title release goes
smoothly.

Yes, the finance company will give you the payoff amount. I was assuming that the poster knew that already. However, the original poster was also concerned about the logistics of the purchase. (At least that is how I read it.) If you are calling a call center in Texas or Maryland or California, they may not know the NC law/process for such matters.

I've worked in secondary, consumer financing for auto loans. We had some really sharp people in the office and then not so bright ones. It's not a high paying job. And, I'm sure some places outsource the auto servicing function these days if not sell the servicing to a third party altogether. I was only cautioning the poster to try and avoid a headache.

[saturnfan]

Carmax did right by me.

[lg97]

The suggestions of going to the bank to handle the deal won't work for me b/c I bought the car in GA. The financial office for my Honda is in Atlanta.

[kelly237]

MSN has a good article on selling a car with a loan still on it.

How to sell a car you don't own - MSN Money

[thorpe]

Carmax did right by me too. I sold my car to Carmax last year.

[giffman]

Carmax is a good no hassle way to sell your car but you will definately get more selling it privately. We bought our last car at Carmax and this is what their salesperson told us.

[toot68]

Are you buying another car? My sister was in a similar situation, and got out of it by buying a less desirable car from a dealer, and the dealer took her car as a trade in and marked up the price of the new car to cover the loss on the trade. So she paid a bit more on the new car but was free of the old one.

[ut04257]

I took my SUV to Carmax and their offer came back significanntly lower than what I owed on it. I posted it on Craigslist and received offers much higher than the Carmaxx offer.

[JJingle]

Originally Posted by ut04257

I took my SUV to Carmax and their offer came back significanntly lower than what I owed on it. I posted it on Craigslist and received offers much higher than the Carmaxx offer.

Was this recent? I ask because someone told me today that a dealership (not Carmax) offered then half of KBB trade-in value on their SUV. The dealership said there is no market for SUV's right now. I was just wondering how true that statement may or may not be.

Hopefully, the OP isn't selling an SUV???