Selling an Amortized Vehicle

**Roadieni** · October 10th, 2003 09:35 PM

Hi guys, have not been here for a long time!
Need some answers... how do you sell a car you are still amortizing? I"m planning to sell my car whic I bought last January but I'm still paying monthly amortization for the next two years. Any experience on this matter?:confused:

**ssaloon** · October 11th, 2003 11:01 AM

tell the prospective buyer to pay the remaining balance ata...

**tebs** · October 11th, 2003 11:06 AM

i think you just give a price that is equal or less than the payments you already have done.

ewan ko lang, speculation ko lang

**boybi** · October 11th, 2003 10:55 PM

determine the market price of your car, deduct the total remaining amortization. that will be the cash out of the buyer, he will then be the one to assume the balance of the ammortization. the financing bank should be informed of the sale, and will probably do a CI of the buyer. the bank have the right to refuse the buyer, since they are the 'owner' of the car until full payment.