Quote:
Originally Posted by JBL
I recently sold off a car that was quite new and I realized I could not really afford. I did lose some money on the deal, but now have a budget that works. Something that helped me get the car sold off more easily was that I got the title cleared. I pulled a personal line of credit (at 13%) and paid off the car note. As soon as I got the title in my hands, I started advertising heavily. I then sold the car as quickly as I could, and turned the cash around to pay off the personal note. I ended up paying some money in interest this way but it made it a lot easier to get the car sold not having to hassle the potential buyer with title transfer difficulties. I know people who have sold off cars with liens, but it can be tricky. Another option would be to take the car to a subaru dealer and trade it in on a forrester. This would be the easy but more expensive way to do it.
Wishing you luck!
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Great tip, never would have thought about that. I will probably take this route over the trade in as I intend to purchase the forester at an auto auction as opposed to a dealer. Taking the hit on trade-in value is a difficult thing to swallow. But thanks for the tip, great advice!