-
Want to remove ads? Register an account and login to see fewer ads, and become a Supporting Member to remove almost all ads.
2022 MY P - only 3000 miles , $71000
- Thread starter My First EV
- Start date
If you order brand new it's only $3,190 more and you can finance however you want and likely will be delivered within 60 days.
The only way I know for sure would be to use an escrow service. You could try to pay off the loan directly with the lender and get the title directly from them, but you would have to go to the physical location that the title is at to be sure. It most likely wouldn't be an issue, but if for whatever reason the title was sent to the owner by mistake they could have the loan paid off and the car...
Escrow would cost probably about $1,000 (usually 1.5% or so) which means you would only be saving $2k on the used car compared to new.
How to Sell a Car With a Loan
Selling a car can be complicated if there's still money owed on the loan, but it's manageable once you know the process.
www.carfax.com
I personally would not buy unless the seller can pay off the loan and have title in hand and then you pay the seller or they used an escrow service and ate the cost of that. Too many scams out here ruin it for the honest people, sorry.
If you order brand new it's only $3,190 more and you can finance however you want and likely will be delivered within 60 days.
The only way I know for sure would be to use an escrow service. You could try to pay off the loan directly with the lender and get the title directly from them, but you would have to go to the physical location that the title is at to be sure. It most likely wouldn't be an issue, but if for whatever reason the title was sent to the owner by mistake they could have the loan paid off and the car...
Escrow would cost probably about $1,000 (usually 1.5% or so) which means you would only be saving $2k on the used car compared to new.
How to Sell a Car With a Loan
Selling a car can be complicated if there's still money owed on the loan, but it's manageable once you know the process.
I personally would not buy unless the seller can pay off the loan and have title in hand and then you pay the seller or they used an escrow service and ate the cost of that. Too many scams out here ruin it for the honest people, sorry.
Thank you so much for your guidance appreciate all the insight and looking after making us aware of any scams out their
I will definitely play it safe and buy a car with title in hand wish.
It’s unfortunately an extra hassle when buying used and the bank still has the title, but the buyer should absolutely understand that and go the extra mile to use an escrow service (and cover the cost) or get that title in hand and then sell the car. It’s likely the seller would have the same concerns that you have if they were in the position of buying.
Might want to give Vroom, Carvana, etc a chance before the start of the new year and new incentives land.
Yeah I tried them. They are offering low. I switched to a full time at home job so selling this as we don't need 2 cars.
Similar threads
- Locked
