can I sell you my car if I still owe money on it?

Asked by Guru9P9XW2 Jun 07, 2022 at 01:59 PM about the 2021 Honda CR-V EX AWD

Question type: Car Selling & Trading In

say I owe $10,000, your offer is $12,000. how do you take possession of the
car, when the bank still holds the title?

1 Answer

157,615

Cargurus doesn't buy or sell anything. They're an advertising site only. Similar to Craigslist, Facebook Marketplace, etc. If you trade in the vehicle and still owe money on it the money owed will be added to the price of the new vehicle. So then you're paying for two vehicles, one of which you no longer have! If you sell the vehicle to a Dealer for more than you owe on it the Dealer pays off the vehicle and you get a check for the difference, in this case $2,000. You'll sign an agreement stating that you sold the vehicle to them and when you get the title you will immediately sign the title over to the Dealer. Selling a vehicle outright, that you still owe money on, is difficult because most people won't want to wait for the title or take your word for it that when you get the title you'll immediately sign it over to them without a written agreement. Since the amount owed versus the value of the vehicle is not much, I'd trade it in on something else, if you're financially able to. Hope that helps! Jim

1 people found this helpful.

Your Answer:

CarGurus Experts

  • #1
    DavidG12180
    Reputation
    6,730
  • #2
    GuruXPDQ
    Reputation
    5,640
  • #3
    Monicapugh
    Reputation
    5,040
View All

Find great deals from top-rated dealers

Search

Related Models For Sale

Used Toyota RAV4
100 Great Deals out of 2,089 listings starting at $3,888
Used Honda Pilot
45 Great Deals out of 1,256 listings starting at $4,495
Used Honda HR-V
26 Great Deals out of 1,151 listings starting at $9,995
Used Honda Accord
43 Great Deals out of 907 listings starting at $1,599
Used Honda CR-V Hybrid
17 Great Deals out of 1,609 listings starting at $33,992
Used Honda Civic
176 Great Deals out of 3,690 listings starting at $1,995
Used Toyota Highlander
32 Great Deals out of 737 listings starting at $2,495
Used Mazda CX-5
61 Great Deals out of 2,596 listings starting at $5,495
Used Toyota Camry
48 Great Deals out of 979 listings starting at $2,212
Used Subaru Forester
22 Great Deals out of 1,056 listings starting at $2,695
Used Honda Passport
7 Great Deals out of 380 listings starting at $22,995
Used Acura RDX
31 Great Deals out of 945 listings starting at $4,999
Used Nissan Rogue
134 Great Deals out of 5,409 listings starting at $807
Used Toyota 4Runner
12 Great Deals out of 309 listings starting at $9,700
Used Toyota Corolla
122 Great Deals out of 1,994 listings starting at $2,795

Content submitted by Users is not endorsed by CarGurus, does not express the opinions of CarGurus, and should not be considered reviewed, screened, or approved by CarGurus. Please refer to CarGurus Terms of Use. Content will be removed if CarGurus becomes aware that it violates our policies.