As long as you are not "upside down" on your loan, it shouldn't make a lot of difference. Are you going to replace the Pilot with something else - or simply sell it? Some people "trade down" and you may be forced to do that if you cannot find a buyer on your own.Goldtopan said:Unfortunately things are not good at work and we are looking at downsizing.
How difficult is it to sell a financed vehicle yourself? We would just like to get our payoff not looking to make a profit. Just curious how difficult it is to find buyers.
I doubt your lender will release the title until you walk in with the payoff. As you say, the buyer will most likely need to get a loan himself. I would think though once the buyer has his financing in order, it will be a simple transaction to get the title from your bank to the new owners bank.Goldtopan said:I guess my concern is how does it work. Most likely the buyer would have to get a loan to purchase. Does their lender pay us and then we pay off our lender? Do lenders not like this type of situtation? Do they prefer working with car dealers?
We definately have to replace the Pilot. I just think it would be a great deal at our payoff, but dealer's offer is around $1,500 less.
Our Pilot has 10,000 miles is an EX and has the extended warranty that is transferable. We need $26,800 and would be clear.
The only vehicles we've sold previously were paid off. I just I concerned on the hassle of a vehicle that isn't.
Hmmm, I didn't know about getting a prorated amount back! I wonder if all extended warranties are that way?Goldtopan said:You are correct on the extended warranty. It is only transferable between private parties. But we can get a prorated amount back if we do trade it in.