ok so im thinking of selling my xd. not official yet. I can pay it off but out of curiosity. Since its not completely paid off and still making payments on it. can I pass down the contract to someone else?

 

Yes you can. You can have someone take over the payments if they want.

 

cool beans. thanks. lock please

 

Actually you can only pass it to someone else if they have an equivalent or better credit score. Even then the specifics are a bit gray, I would ask the bank or where ever you got your loan from to be sure. The new buyer might have to get a loan for the current amount owed or something to that effect.

OR

They could pay you directly and you could keep it under your name..

 

i did a google search on this topic since i was trying to get rid of an older car. is it possible? yes. is it advisable? NO.

here are some options:

1. if you are thinking about another car then trade in the XD and go upside down on current loan.

2. go to a place like CARMAX (or some dealerships) which buys vehicles from owners, but you may need to take out a loan to pay the difference.

3. part out the car and cancel the insurance to get more funds (just dont drive it), then put it up for private sale. you may need to get a loan/borrow $ for the difference depending on how much you owe.

there's no easy way around this situation, unfortunately. thats why for precautionary purposes i'm leary of modding too much before paying off the car

 

Yeah I would hold off until either the car is paid off or you will not be stuck going upside down on your trade in or private sale.

 

Yea ima jst finish payn it off. And sell it during the summer nd if ii dnt get what ii want then ii will part out nd trade it in lol

 

honestly, not having a car payment is awesome. ever since i bought the BMW, all i think about is paying it off ASAP to free up my income for other interests, so i've been making double payments on it every month this year.

 

cheers to that.

 

heck yeah. that's a whole lot of hooker $