Topic: Selling my VW Jetta

[beagle]

Should I pay off the car first and then sell it?
Or wait for a confirmed buyer then pay it off?

The first option will tie up a lot of cash for a period of don't know how long it will be.
However, I am not sure if any potential buyer wish to wait a couple of weeks for me to pay it off.

Thanks for any opinion

[barrie1]

I don't know how you could give a Clear Title to this vehicle without it being Free and Clear of All Liens or Debts on it. The current Mortgage persay on the car will not allow you to sell it to a another owner without being classed as Free and Clear. It would be classed as Fraud unless they take over the payments or debt on the vehicle.  You will have to gaurantee the title to this vehicle before you sell it unless the new buyer accepts it this way in writing. 

[Craig]

What Barrie said.

Are you sure you have to sell it now?

[jamie1]

Iv'e sold a few cars that I still had money owing. I've always informed the buyer. The buyer gets a cheque that is payable to two parties, me and the bank that holds the lien. Simple really.