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05-04-2010, 10:27 PM
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#1 | | I don't get it
Join Date: Jun 2005 Location: 604
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| wanting to sell car but still financing..
anybody with experience with this? i am still financing my car and i want to sell it. does the buyer take over the remaining finance and pay me the amount i want? or does the buyer pay me the full amount that i ask for and i use part of it to pay the rest of the payoff quote? thanks!
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05-04-2010, 11:00 PM
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#2 | | I don't get it
Join Date: Apr 2005 Location: richmond
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buyer pay u amount u ask for -----> payoff quote = difference
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back to the future!
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05-05-2010, 12:49 AM
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#3 | | RS.net, helping ugly ppl have sex since 2001
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what car are you selling?
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they look sooooooooooo much bigger than they were 2ish years ago. | Quote:
Originally Posted by nns I can't stand the sound of Mandarin either. Boo yow nee bey nee shing bo now noong gey shee mayo mayo mayo mayo mayo mayo mayo. | | |
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05-05-2010, 01:27 AM
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#4 | | I answer every Emotion with an emoticon
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i think you need a letter authorizing you to sell the car because technically the car is still not yours until you pay it off.
or you can get the person to take over the financeing and ask the buyer to pay you some money back for the downpayment you made..
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05-05-2010, 02:37 AM
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#5 | | I don't get it
Join Date: Jun 2005 Location: 604
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thanks for the replies.
im selling the s2000.
hm i was thinking to meet up with the buyer at the finance company and have him get one check to payoff the quote and another check with the difference for me.
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05-05-2010, 08:21 PM
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#6 | | I don't get it
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Anybody else experience with this? Posted via RS Mobile | |
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05-05-2010, 08:24 PM
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#7 | | I contribute to threads in the offtopic forum
Join Date: Mar 2010 Location: richmond
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| Quote:
Originally Posted by pwp type-s thanks for the replies.
im selling the s2000.
hm i was thinking to meet up with the buyer at the finance company and have him get one check to payoff the quote and another check with the difference for me. | cheque? Might want to do cash in hand so you don't get screwed Posted via RS Mobile | |
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05-05-2010, 09:05 PM
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#8 | | Willing to sell body for a few minutes on RS
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| Quote:
Originally Posted by pwp type-s Anybody else experience with this? Posted via RS Mobile | Actually it's simple. You sell the car, buyer pays you money, then you pay off the balance on the loan.
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05-06-2010, 10:48 AM
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#9 | | I bringith the lowerballerith
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I don't think he can, because the title is not in his name. It will be under Honda Financing.
I think what people do is assume financing. Call Honda Financing or visit them, they are on No. 6 in richmond
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05-06-2010, 10:58 AM
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#10 | | Willing to sell body for a few minutes on RS
Join Date: Mar 2002 Location: Victoria
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| Quote:
Originally Posted by Nssan I don't think he can, because the title is not in his name. It will be under Honda Financing.
I think what people do is assume financing. Call Honda Financing or visit them, they are on No. 6 in richmond | Huh?
Do we have financing and leasing confused here?
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2008.5 Mazdaspeed 3
1997 GMC Sonoma ZR2
2014 F150 5.0L XTR 4x4
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05-06-2010, 11:34 AM
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#11 | | Old School RS
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| Quote:
Originally Posted by Nssan I don't think he can, because the title is not in his name. It will be under Honda Financing.
I think what people do is assume financing. Call Honda Financing or visit them, they are on No. 6 in richmond | You are wrong. If you LEASE a car, the title is not in his name. If you FINANCE a car, the title is in your name with a lien against it. You can transfer the title all you like but there is still a lien against it.
The best way to do this is that the buyer makes out two certified cheques / bank drafts, one for the exact amount of the payout, made to Honda Finance company, one for the balance, made to the buyer. Quote:
Originally Posted by Great68 Actually it's simple. You sell the car, buyer pays you money, then you pay off the balance on the loan. | If I was the buyer, I would never agree to this - there is no guarantee that you as the seller would actually pay the money to extinguish the lien, that is why it is much safer to directly pay the finance company.
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05-06-2010, 11:43 AM
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#12 | | I don't get it
Join Date: Jun 2005 Location: 604
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thanks all, i know wut to do now!
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