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Author Topic: selling the Toaster...  (Read 1392 times)

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Lightning

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selling the Toaster...
« on: May 16, 2012, 18:57:42 »

well, I took my little Toaster to the local Dodge dealership to get it appraised, just out of curiosity really, and I got a surprise.  I'm no longer upside-down on it, heck, after this weekend I'll have a decent surplus between how much I owe and how much it's worth.

So, it's time to sell the little bugger!

a friend of mine has suggested putting it up for $2k over what the dealership was gonna give me as a trade-in.

but...I'm kinda lost as to what happens at this point, I've never had a car before that was new enough to where I still owed money on it when I sold it.

from what I understand, I make out a bill of sale like normal, collect the money and let them have the car, pay the car's bank, and they give me the title in 10 business days, then I give the title to the buyer.

Am I understanding it right?
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Dippy.org

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coppcarz

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Re: selling the Toaster...
« Reply #1 on: May 17, 2012, 12:27:07 »

If the buyer gives you cash for a car with a title with a lien still on it....he's an idiot...
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Captain Caravelle

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Re: selling the Toaster...
« Reply #2 on: May 17, 2012, 13:42:03 »

Sounded a bit unusual to me too.
If I was the buyer,
 I don't know if I'd wanna be fessing for a car that I don't get the title for till 10 days later.
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DobaMark

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Re: selling the Toaster...
« Reply #3 on: May 17, 2012, 16:47:23 »

The only way this can work is if there's a local office for who ever holds the lien and they do the transaction there.
Otherwise, trade it in, borrow the money somewhere else short term or got see what Carmax offers.  If the car has decent miles and is in good condition Carmax will probably be higher than the dealer trade.
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Lightning

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Re: selling the Toaster...
« Reply #4 on: May 17, 2012, 18:46:36 »

I totally forgot about Carmax...Thanks guys!
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