Wednesday 26 October 2011

Is it possible to trade a car still in finance?

about two months ago i bought a used 07 g35 from infinity dealer and owe about $10,000. and the financing bank is chase. This was first time i got finance so i don't really know how this works. the question is, is it possible to trade private? i mean is it possible to change the car straight across with someone and make the payment for my infinity after i trade my car?Is it possible to trade a car still in finance?No that is not allowed in any country.

If a vehicle is on finance the car belongs to finance company so you can not sell it until the remaining balance owing to them is paid off.

You can ask them for a settlement figure which is minus most of the interest because your paying it off earlier then taken on for. Some finance company's will only let you pay off the balance after 6 months.
Is it possible to trade a car still in finance?
In the U.S.A. they take your equity and use it as a down payment.

Buyouiu need to have paid off some money anhaveve decent credit.

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Is it possible to trade a car still in finance?
In the UK, and this is asked on the UK and Ireland part of YA, it is possible but the dealer would pay off the finance from the value of the car and deduct it from the amount available. Until it is paid it does not become the dealers property so they insist on that.

I guess the US will be the same
Yes it is as long as that other person can qualify for the loan then they can take over the payments under a new loan................
I dont think that would be allowed//

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