HEMI LOL

its not a problem at all. i just sold my m3 privately and owed on it. i sold the car for $xxxx.xx. seller transfered the money into my account. seller signed bill of sale, took delivery of the car. i then sent my bank(who the car was financed through) a certifed check. after about 16 biz days i recevied the title and then o/n'd it to the new owner. done and done.

HEMI LOL

bascially you cant sell a car your unpside down on. i was head on my m3 and made money on it, so i had profits after paying off the loan.

thailand

All great advise. I just went through it selling my Eclipse. It was difficult finding a buyer that was willing to wait for the title though. Just review the laws in your state and remember...write up a bill of sale!! Its one of those things that will protect you if the worst does happen. Make sure it has the sale date, mileage, vin, your name, their name, signatures, etc.

HEMI LOL

yes, there are great bill of sale templates on line thats what i used. also have the BOS notorized, most bank branches have a notory there for this kinda stuff.

bluovalguy

All of this is great info, but most of it is useless to the OP. Follow the link that Saddle Up posted and do what it says. States have VERY different laws reguarding selling vehicles privately. What works in one state may not be legal in another.

Is VA a title holding state, do plates transfer by vehicle or by owner, is a bill of sale required or recommended, etc... To many state specific questions that need to be asked.

Heres another link to help you out...

http://search.dmv.org/dmv/virginia/selling-a-car

joutcelt

Why dont us just call ur bank, and not to mention its just a bit more leg work on ur part to sell it privately. Plus the benefits out way the trade in. Im surprised with how many americans will just say the hell with a few thousand dollars and bite the bullet for something new that just came out. Baffles me. I can understand if u had it for sale for a year and couldnt get rid of it. But that just means u want to much. I say sell it urself if ur not in a hurry. Best things happen to those who are patient