How do I go about selling my still owed on car to get a new one.

[BEEMDUB]

So I still owe about 4 grand on my charger but I'm trying to sell it to get a Tahoe. I had a potential buyer call today but I realized that I'm in a shit hole and need help figuring out what to do because I need the money from the sale of the charger in order to pay off the remaining amount, and then I will have to get a new loan for the amount of the difference between what I sell the charger for, and the price of the Tahoe. How should I do this? Should I do this or is it almost too complicated to even attempt?

[P4killer_]

my gf could explain this to you in a heartbeat. its less complicated to sell it back to the dealer who you bought it from, but im assuming that seeing as you have a dodge and you want a chevy then youd be working with two dif dealers. you could still take it into the chevy dealer and trade it in.. but i dont think theyd let you since you dont have the title and its not paid off obvi.

sooo youd have either

a) take it back to dodge, theyll buy it back from you. and youd be responsible for the difference on the charger plus the amount for the tahoe. whether you finance it or pay straight up it doesnt matter. but if you finance it, the dodge will be set. your new car will just be more expensive, if that makes sense. tahoe + prev balance. but it wont be like you have two separate notes. theyll clean all that up into one monthly payment

b ) you take it to chevy, or sell it privately. you get what you can for it. you will still owe dodge anything left on that balance. You buy a tahoe normally and have a monthly payment on that. plus the payment on the charger. but then again you cant get the title without paying it off so youd have to sell it for at least payoff i think. in which case dodge gets their money and its back to square one.

now the chevy dealer or different dealer whoever may be able to contact dodge and arrange the tranfser of funds and then their finance company (chevy) would pay it off for you and youd owe chevy the payoff dif plus tahoeand again roll it into a single monthly payment. but idk if they can or would do that for you, they might

im pretty sure thats how it works. imo it would be better to deal with the same dealer you bought the car from because theyd be more inclined to "help" you get into owing them more money. where as a different dealer could give two shits about what you owe the other dealer, its about what you owe them

[Gingeriffik]

You can trade it in at any dealership you want. They will handle the title process. You're not upside down on the Charger, so there is not a whole lot to worry about there. If you sell it privately, you would have to tell whoever wants to buy it, that there is a lean on the title and it will take a few days to get the lean released to sign the title over.

[BEEMDUB]

Only thing I'm worried about it that the dealership won't give me near as much as I could get from a private sale

You can trade it in at any dealership you want. They will handle the title process. You're not upside down on the Charger, so there is not a whole lot to worry about there. If you sell it privately, you would have to tell whoever wants to buy it, that there is a lean on the title and it will take a few days to get the lean released to sign the title over.

[BEEMDUB]

my gf could explain this to you in a heartbeat. its less complicated to sell it back to the dealer who you bought it from, but im assuming that seeing as you have a dodge and you want a chevy then youd be working with two dif dealers. you could still take it into the chevy dealer and trade it in.. but i dont think theyd let you since you dont have the title and its not paid off obvi.

sooo youd have either

a) take it back to dodge, theyll buy it back from you. and youd be responsible for the difference on the charger plus the amount for the tahoe. whether you finance it or pay straight up it doesnt matter. but if you finance it, the dodge will be set. your new car will just be more expensive, if that makes sense. tahoe + prev balance. but it wont be like you have two separate notes. theyll clean all that up into one monthly payment

b ) you take it to chevy, or sell it privately. you get what you can for it. you will still owe dodge anything left on that balance. You buy a tahoe normally and have a monthly payment on that. plus the payment on the charger. but then again you cant get the title without paying it off so youd have to sell it for at least payoff i think. in which case dodge gets their money and its back to square one.

now the chevy dealer or different dealer whoever may be able to contact dodge and arrange the tranfser of funds and then their finance company (chevy) would pay it off for you and youd owe chevy the payoff dif plus tahoeand again roll it into a single monthly payment. but idk if they can or would do that for you, they might

im pretty sure thats how it works. imo it would be better to deal with the same dealer you bought the car from because theyd be more inclined to "help" you get into owing them more money. where as a different dealer could give two shits about what you owe the other dealer, its about what you owe them

ahhhh I get so confused when trying to pick one of those options...Part of me really likes the "simplicity" of taking it to the dealer and trading it in...But the dealers tahoes all have more miles than the ones I'm finding on craigslist and locally

[Trey_Dog650]

Best way to sell it privately is to do it all at the bank. The bank will take care of everything

The banks from where ever the loan is from

[stroupe79]

do you owe more than your trying to sell it for?....if not you can explain to the buyer you have to payoff the loan before you can sign the title over to them...

it's not that big of a deal unless your selling it privately for less than you owe...in that case you would have to pay if off and then sell it privately, and then purchase your Tahoe...which is going to be a bitch

[BEEMDUB]

do you owe more than your trying to sell it for?....if not you can explain to the buyer you have to payoff the loan before you can sign the title over to them...

it's not that big of a deal unless your selling it privately for less than you owe...in that case you would have to pay if off and then sell it privately, and then purchase your Tahoe...which is going to be a bitch

Oh hell no I'm selling it for 3 times more than I owe lol

Best way to sell it privately is to do it all at the bank. The bank will take care of everything

The banks from where ever the loan is from

Soooo basically I have the buyer of my car meet me at the bank...I use the money they give me for the car to pay off my loan and keep the rest....Sign the title and all that over to them, they drive away with my (their new) car...and then I use the remainder of the money I have from the sale to put as a down payment for a new loan that I will get for the Tahoe and go get that ?

[stroupe79]

Yes, that is the basics of it....

[Trey_Dog650]

Yes it's that simple. I work at a bank and see it all the time. Just go to the bank first and speak with a banker. Tell her what you are doing. Usually can take them a few days to get the title ready for you. But once they have it, just do as you said. Pay off the loan. Sign title to new guy. Take left over cash to Tahoe and buy that! Boom done