Friday, 27 February 2015

If you sell a car and you owe the creditor do you have to pay them the amount the car was sold for?

If you sell a car and you owe the creditor do you have to pay them the amount the car was sold for?
If you sell a car you owe a creditor a balance on, you pay the creditor the amount you owe him in order to get the title to the vehicle to turn over to your buyer.

Anything over the balance owed to the creditor is yours to keep, assuming you sold it for more than you owed on it.

If you sold it for less than you owe on it you will have to pay the additional amount out of your pocket to get the title.

No comments:

Post a Comment