Help, want to stop my finance car, HOW?
14-Jan-2009, 08:40 PM
#1
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Thread Starter
Join Date: Sep 2007
Location: Toronto
Posts: 61
Help, want to stop my finance car, HOW?
Hi guys, I have a 04 Honda Civic LX. I bought it January 2007 and its a finance. Now that I need a bigger vehicle, like 7 seater SUV, I need to give up my car's financing. Any idea how to stop my financing? Thanks in advance guys...
14-Jan-2009, 08:47 PM
#2
Senior Member
Join Date: Nov 2007
Posts: 173
The easiest way is to get a line of credit (or some sort of short term loan from the bank).
Basically you find a buyer, then you use your "loan" to pay off the car, and get rid of the liens on it so it's all clear for the buyer (you'll have to get a letter from Honda saying it's all paid off etc). Get the money from the buyer, and pay back your loan (within a couple days). And that's that.
Or you can try to transfer the financing, but I have no idea how that works. When my mom bought her Lexus, the guy was financing and that's what he did.
Basically you find a buyer, then you use your "loan" to pay off the car, and get rid of the liens on it so it's all clear for the buyer (you'll have to get a letter from Honda saying it's all paid off etc). Get the money from the buyer, and pay back your loan (within a couple days). And that's that.
Or you can try to transfer the financing, but I have no idea how that works. When my mom bought her Lexus, the guy was financing and that's what he did.
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