If i buy a new car on monthly payments, can i sell it? - answer! Answers

If i buy a new car on monthly payments, can i sell it?

If I buy a brand new car from a dealership with no down payment and am making monthly payments on it, can I sell it, say after only 3 or 4 months? How would that work? How much would it go for? Do I still have to make payments for the difference? Does the dealership buy it back? Any general info on this would be great. Thank you!

6 months ago

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by mea_0042...

Member since:: February 16, 2009
Total points:: 1252 (Level 3)

Best Answer - Chosen by Asker

You can sell it, but it will be tough to sell it to someone other than a car dealership, because you wont have the title. If you sell it to a dealership they probably wont give you what you owe on the car, but the balance of your loan can be tacked on to the new loan. I don't suggest this, because you will owe more than the new car is worth....
Good luck

6 months ago

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Asker's Comment:: Thanks. That is everything I needed to know =)

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Johnnie Gentle
The Magic Touch
3 Jordanhill Crescent
GLASGOW, UK
email: magic@magictouches.com