Selling a Car
Hope someone can give me some information regarding the following.
I am selling a car for 200,000dhs I currently owe 245,000dhs to the bank. I have had an offer for 150,000dhs from a garage and all i need to do is make up the difference and in cash, they pay off the loan etc. (not an option):thumbdown: I want to sell private but do not have the money to clear the loan fully first without selling it. If a buyer is getting a bank loan to for the car do they make the cheque out to the bank who i have a loan with and i make up the difference, clear the loan, get the clearance letter from bank then proceed to RTA to change ownership? Or do the banks sort all this out between themselves? |
Re: Selling a Car
what the hell are you selling for 245K! It was on the radio this morning that sales have dropped 45%.
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Re: Selling a Car
Originally Posted by Blue Cat
(Post 7724763)
what the hell are you selling for 245K! It was on the radio this morning that sales have dropped 45%.
Think MM would raise her offer to 245K to help the chap out?? |
Re: Selling a Car
2007 Range Rover Sport HST Supercharged. Excellent condition lol:)
Only 200,000dhs |
Re: Selling a Car
Originally Posted by Rrsport
(Post 7724768)
2007 Range Rover Sport HST Supercharged. Excellent condition lol:)
Only 200,000dhs |
Re: Selling a Car
I have the 45k difference, its how it all works etc i need to know
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Re: Selling a Car
I think you can go to your bank with the buyer, they hand over 200k to the bank, you hand over 45k and the bank then gives you a clearance letter - some banks give you this on the spot, others take a few days to generate the document.
Essentially, once you have this, you go to the licencing centre with the clearance letter and transfer the ownership. Check with your bank how quick they can give a clearance letter so you can explain to a potential buyer the process From personal experience, selling a car at the moment is near impossible, and you will only get offers around half of what you are asking. We decided to hold on to our car for another year and see how things are after that. |
Re: Selling a Car
Originally Posted by Robbies
(Post 7724792)
I think you can go to your bank with the buyer, they hand over 200k to the bank, you hand over 45k and the bank then gives you a clearance letter - some banks give you this on the spot, others take a few days to generate the document.
Essentially, once you have this, you go to the licencing centre with the clearance letter and transfer the ownership. Check with your bank how quick they can give a clearance letter so you can explain to a potential buyer the process From personal experience, selling a car at the moment is near impossible, and you will only get offers around half of what you are asking. We decided to hold on to our car for another year and see how things are after that. |
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