If you do not want to refinance your car, you can lower or eliminate your car payments by simply selling it. This is an easy process depending on how you do it. If you want to sell a car with a car loan on it, there are a few things you will need to keep in mind.
The fastest way to sell your car is to ask for car trade-in deals. This means that you sell your car to a dealership, and the dealer subtracts the amount you get from the price of a new car.
Trading in your car is a great option if you still have a loan on it because the dealer takes care of paying off the loan. This is the easiest option if you do not know how to sell a financed car.
To sell a car with a loan on it to a private seller, you will need to do more work. This is because your car’s title will not be in your possession until you have paid off the loan. This means that if you want to sell a car with a loan on it, you need to either pay off the loan or find a seller who wants to buy it even though they will not receive the title right away.