I have a 2006 Ford Fusion. I currently owe $14,000 on it. The Kelly Blue Book value for my car is listed at $11,800. I am looking to sell to save money, would it be a good idea to first pay it down to the Kelly Blue Book value, and then try and sell?
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Anonymous
ANSWERS: 2
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Well you will not able to sell it until you pay it down to what its worth. The reason is, unless that person is willing to pay what you owe, you cannot get the title from the bank until the loan is paid off, unless your willing to put up the 2200 dollar difference. All that being said if you can get exactly what the car is worth, which in the semi-recession we are in, people are going to try to lowball you. Hope that helped
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I have sold a couple of vehicles with the advertised price of selling for bank balance, I think it made people think they were getting a good deal, as though the car was worth at least what the balance was??? The last car I sold I told the girl that I would meet her at the bank and make one more payment and she could pay the rest (the payment was due that day so whether she bought it or not...)
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