What is the best way to sell a car that is not paid off?

Question:
My guess is you sell the car providing only a receipt, pay off the bank loan, and then, when you receive the clear title you transfer it to the buyer. I suspect this is the way these things are done, but, to be honest with you, if someone tried to sell me a car by this process I would be suspicious. I am trying to sell a 2005 Mazda RX-8 worth $22,285 and it has a loan balance of $17,000.

How do used cars traders make money?

Thanks!

Answers:

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Or you could call the bank and ask them how they would like to proceed, since actually it is their car and car title. They will be able to set up the best way to complete the transfer without any issues arising.

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Can you trade 2 cars in for 1?

you have the correct idea of how its going to work but it takes a few days for all the paperwork list in local paper

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You just tell them that there is X amount on loan, theres no problem. They pay the amount owed to the loan mortgager, and the rest to you. That does not sound shonky to me

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