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Author: stoferj One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 71394  
Subject: Re: Selling Luxury Car with Loan Payments Remain Date: 5/13/2004 3:59 PM
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With a car that new, I'd definitely try to sell to a private party first and not do a trade-in. You'll take a serious loss trading it in. Warranty is transferrable. No problem there.

Newspaper is good but expensive. Many cities have a publication just for used cars. Look for it in grocery stores where they keep the free publications for real estate etc. Also, www.autotrader.com is a good place to list.

The buyer will have to go to the bank with you and pay them the outstanding loan amount. Or if they're paying less than that you will have to make up the difference. Then they will transfer title to the buyer. If you financed through someone who doesn't have a physical presence near you, call them to find out what to do.
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