Selling financed car without title
Insurance for 2018 Ford Fusion going up high especially collision part which is alone $300+ and $700+ for 6 months with max liability limits 500/500/100k with 500 deductible. I want to sell this car and buy a with less collision insurance cost. My car is financed with 12k loan @4% remaining. What paperwork required to sell/ transfer the title ? Paying loan is not an issue, but I don’t want pay so much insurance for this car since my other Honda Odyssey is 500 for 6 months. Tc 240
You’ll need a photo of your odometer, lien payoff information and all of that. Even at $1,000 for 6 months that’s not terrible for the insurance coverage you’re looking for at 500/500/100
It would also depend on your age, zip code, and driving record.
Financing a car is such a dumb thing to do.
I disagree. Not everyone can afford to pay 100% the cost of a car upfront. There are many low financing rate offers that make financing very affordable and sensible
If you cannot afford the car, why are you buying one? Just get a used car. Low financing rate 🙄. How is paying interest on a depreciated item sensible?
I tried to sell a car without the title (0%loan). It was a pain so I ended up paying it off first and then sold it after the pink slip arrived. Then you just sign over the pink slip, send in the realease if liability form that you tear off the pink slip, and optionally get a bill of sale form online from the DMV that both the seller and buyer sign.
Your payoff amount and loan info (they’ll verify it anyway) This is still dumb and you’ll not save money by going upside down on another car.