Okay, so I need to sell my 2003 Altima and it has 10K left on the loan through Nissan Motor Acceptance Corp. I have a private buyer who is using his bank funds. I need to know how to go about the sale so we are both comfortable with this.

I know Nissan won't release the title to me until I have paid off the remaining balance, but I don't want to take the money from my buyer and have him waiting for Nissan to mail the title to me, then transfer the title to him.

Advise please (if the above made any damn sense )

EDIT: Woah, 500+ posts. I love this place .

 

go to bank.. get loan... pay the car off....get title... sell car.

I did the above when I bought my old car out of its lease and sold to a private party for 3500 more than what the buy out was... the bank made $100.00 off of the deal...

So to make 3500 I was willing to lose 100 dollars.

 

Umm, I don't think getting a loan to pay off a loan is a smart idea. The title owner would still be a financial institution and not me.

 

explain the situation to the bank.... the transaction will be done in UNDER 1 month... how much Interest do you actually think you are going to pay in 1 month?

you want the car sold right?... well that is the only way besides borrow the money from someone and pay them back when the car is sold...

 

thread moved

 

Sorry about posting to the wrong section smitty. I need to call Nissan and find out if the buyers bank can issue an e-fund method to pay off the loan and allow title transfer to me.