Selling car with a loan/where to get car loan under 5K
01-19-2010, 01:17 PM
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Selling car with a loan/where to get car loan under 5K
Hey guys. I am looking to get out of my current vehicle since I am in over my head with interest rates and payments.
I want to know what I have to do to sell a vehicle that is on a loan? Sign a bill of sale, release the car to the buyer and send them the title in the mail? How do they register/drive the car without the title? How long does it normally take?
I will be selling the car for what I owe so I will not have any cash left over to purchase another vehicle. So I will be looking for another very small loan in the range of about $5k. Anyone know of a reputable place that gives loans for that small of an amount? I CANNOT, REPEAT CANNOT get a loan at Navy Fed. So that is out of the question. I have fair credit. Beacon score around 620 or so.
Thanks in advance.
I want to know what I have to do to sell a vehicle that is on a loan? Sign a bill of sale, release the car to the buyer and send them the title in the mail? How do they register/drive the car without the title? How long does it normally take?
I will be selling the car for what I owe so I will not have any cash left over to purchase another vehicle. So I will be looking for another very small loan in the range of about $5k. Anyone know of a reputable place that gives loans for that small of an amount? I CANNOT, REPEAT CANNOT get a loan at Navy Fed. So that is out of the question. I have fair credit. Beacon score around 620 or so.
Thanks in advance.
01-19-2010, 02:20 PM
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Re: Selling car with a loan/where to get car loan under 5K
The bank
Seriously with a 620 credit score you shouldn't have ANY problem finding someone to give you a small secure car loan.
Seriously with a 620 credit score you shouldn't have ANY problem finding someone to give you a small secure car loan.
01-19-2010, 02:43 PM
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Re: Selling car with a loan/where to get car loan under 5K
Langley gave me a Loan for $4k. For that small of a loan, it maybe better to get a personal loan, that way the title is yours.
01-19-2010, 02:52 PM
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Re: Selling car with a loan/where to get car loan under 5K
USAA was able to get me a 5400$ loan with NO credit history/First loan. I had been making payments to them for 2 years for insurance though.
01-19-2010, 02:56 PM
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01-19-2010, 03:52 PM
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Re: Selling car with a loan/where to get car loan under 5K
I should have mentioned I am not military/ex-military/family member of military. Will any of those place give a loan to a civillian/non member
01-20-2010, 04:05 PM
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Re: Selling car with a loan/where to get car loan under 5K
You can go to dmv and have the remaining balace of your loan printed out which should be 0. With that get it notarized by the bank. You show it to dmv and they can do a emergency release and get you the title within 10 mins. Then you can sign it over to him. That way he can register it and all.
