I Want to Sell My Car But I Still Owe Money in City of Industry

Puente Hills Chrysler Dodge Jeep Ram – I Want to Sell My Car But I Still Owe Money in City of Industry

Car owners in City of Industry California face a crossroads when they realize that they’ve outgrown their current car before the loan is paid off. If you’re in a situation where you find yourself saying, “I want to sell my car but I still owe money,” you’re one of the many people who turn to Puente Hills Chrysler Dodge Jeep Ram to sell a vehicle that still has payments left on the auto loan. If you’re facing this situation this year, use these strategies to get out of a rough spot.

I Want to Sell My Car But I still Owe Money

It doesn’t matter why you want to sell your vehicle. You don’t even really need a reason. However, you will need to do some homework before you sell. For example, if you owe more money on your vehicle than you can sell it for, this is called negative equity and will require a dealership to really work hard to make sure you walk away with what you’re owed, but thanks to the rising price of used vehicles, you can still get more money than you pay the vehicle off for. If you’re saying “I want to sell my car but I still owe money in City of Industry,” then you can start analyzing the situation with these few simple steps.

1. What is the value of your vehicle?

Puente Hills Chrysler Dodge Jeep Ram is glad to sit down with you and figure out the market value of your vehicle. We’ll look over your model’s current condition, how many miles you put on it, and what it’s worth to the modern market. Once we know what you might be able to sell the vehicle for, we can help you work out the terms of your auto loan.

2. How much do you owe on your current loan?

Your auto loan gives you concrete terms for what you’re going to pay over the history of that loan. We can sit down and analyze your terms and let you know how much money you have left to go before paying off the loan completely. If you’ve already paid more, you’re in good shape. If you owe more than the vehicle is worth, you’re in a negative equity situation. Don’t forget, though, that used vehicle prices have risen dramatically because of demand. So you can still sell your vehicle and pocket some cash.

3. Are you willing to pay the difference of what your model is worth and how much you owe?

If you can pay off this difference and still feel like selling is a good decision, we can help you take in cash for your vehicle. You’ve already got some equity in the model because of your payments, so the difference isn’t going to be the entire amount of your vehicle. For this reason, many people still decide to sell even after they find out they still owe money.

If you find yourself thinking frequently that you want to sell my car but I still owe money in City of Industry, our dealership is happy to help you figure out a way around this temporary setback. You can owe money on an auto loan, but you’ll still have your equity in the model that makes a final payment possible. From there, you can sell your model to either a private party or our dealership.

We recommend selling to our dealership because we’re very devoted to our customers and really take care of all the red tape for you. The paperwork and legalities of selling a vehicle are hard to learn for someone who’s going into a private sale. Things can go wrong very quickly or you might miss a loan payment and end up selling a vehicle before you’re actually able to.

Learn More at our Dealership

Do you still have questions about the process of selling a vehicle you still owe money on? Please get in touch with our helpful personnel now. We’ll go through the whole process with you. Also serving Cerritos, Downey, and Alhambra California.

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