Quote:
Originally Posted by D1911
Selling a car with a lien on it is illegal...
You owe 29k to the bank.
You sell your car for 19k.
You owe bank 10k.
You have 10k cash.
You buy a car for 10k.
You're left with 0 and you still owe the bank 10k.
Instead of paying 10k cash for a car... use the 10k to pay off the negative equity and re-finance for amount of 10k.
You end up being in the same boat (owing the bank 10k) and not getting into a legal issue.
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thank you
im not worried much about the loss, i know ill be in the same position, just want to see what are the possobilities with this title that i received.