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EmberOnTheSea t1_j6i2mm2 wrote

Reply to comment by octotron3000 in I have a financed car and less than 30 days before navy basic training. by octotron3000

That isn't how it works. In order to be able to transfer the title the loan must be paid in full.

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FormsForInformation t1_j6if6t7 wrote

Correct, you just need to pay the difference.

Car loan with bank A has a 18k pay off

Dealer agrees to buy for 17k

You need to provide 1k to the dealer so they can forward complete 18k payment to bank A

You sign paperwork that allows bank a to send title to dealer.

The difference can be provided in cash, credit card (up to a limit defined by dealer and may have fees, ach, check (some don’t accept personal checks), cashiers check.

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123456478965413846 t1_j6ipi9j wrote

>Incorrect, you just need to pay the difference.

Which is what this whole comment chain is saying. If you sell the car for less than you owe than you have to come up with the difference out of pocket so that you can pay the loan in full and transfer ownership to the new owner.

You aren't adding to the conversation, you are correcting people that are correct and you are trying to say the same thing they said but you are doing it in a more confusing manner.

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