Need advice on selling a car I have a loan on

[s13rookie]

Hello,

I apologize if this had been covered in the past but i could turn up nothing.

Im trying to sell my tiburon. I owe about 3000 more than the car is worth. I am able to pay the differance between what i owe and what im selling the car for.

I owe 13k on the car, and im selling it for around 10k. what im trying to find is a 3rd party that can work as a middle man. Someone to take the sellers funds, my funds, send the money to pay off the loan, and give the new owner the title.

I spoke with the car loan company and they would not do anything to help as I am paying them a ridiculous interest rate. I also spoke with my local bank and they dont do anything of the sort.

I was just going to send my money to the car loan place to pay down the loan to what its worth, but i have a supplemental insurance policy placed on the car ( i cancelled insurance and took the car off the road, so they charge me for their own insurance) and any extra money i send them will be applied towards that policy.

I was just wondering if anyone has sold or bought a car in a situation like this.
Any help would be appreciated

Thanks,
Matt

[S13SilviaGirl]

go to the bank, have the new buyer write a check to your bank, you pay your money and bam. done. You just need to have the pink slip signed when you get it and mail it to the new owner. I did that with my civic when I moved to japan.

[s13rookie]

Thanks for the reply. I dont believe my loan company has a local branch but i will check into doing it by mail. When you sold your civic, did you have to sign any paperwork obligating you to send the title? Im just trying to be prepared for what the buyer might ask.

[S13SilviaGirl]

When you sell the car and do the state paperwork you should def. do a paper for the new owner stating you will send him the title as soon as it comes in to you. Make sure he signs it, and have a bill of sale too. Get his addy and make sure you both get a copy of it. Original should go to him.

[s13rookie]

Thank you very much.

I cant wait to get rid of car payments!