Many people take out a car loan for a rather long period. The standard for car lending is up to 7 years of use of the loan. But sometimes situations occur in life that make it impossible to further quality debt service.
It is necessary
- passport of a citizen of the Russian Federation;
- Internet access;
- your car;
Car lending in recent years has been perceived as a standard situation for buying a car. The partial ratio of buyers who pay the entire cost of a car in cash today is no more than 10%. But it happens that after 3 or 5 years of the total loan term, a person gets tired of his car. Or force majeure happens in life - dismissal, family problems, loss of business, etc. what, then, to do with a credit machine, how to sell or re-register it?
It is necessary to decide who will deal with the renewal of the car loan, you, as the owner, or the bank as the mortgagee. If you entrust this moment to the bank, it will save you a lot of time, but will not allow you to re-register the car with your own benefit.
Put your ad on the sites selling used cars with the desired price, which will pay off the entire loan balance and even bring some profit. If calls start coming in, feel free to make an appointment. It is not worth hiding from a potential buyer that a car on a loan is not worth it, but you do not need to voice it over the phone. If the buyer agrees to your terms, then there are three ways.
The first option is to reissue the loan to a new owner. To do this, you need to clarify whether your bank makes such transactions, but, as a rule, banks willingly agree to such an option for the absence of overdue debts. The buyer must submit the same package of documents that you submitted for the loan. And then, on the day of the transaction, a loan and car assignment agreement is simply signed between you and the future owner of the car. In addition to the car, the new owner takes over all the loan obligations, and you don’t owe the bank anything.
The second option is to repay the balance of the loan at the expense of the future owner of the car. If the buyer agrees, he goes with you to the bank, repays the entire loan balance with his own money. The bank then gives you a PTS and you and the buyer go to the nearest traffic police to remove the car from the register and register it with the new owner. In this case, the buyer must give the rest of the money to the traffic police. If a person doubts, you can offer to involve a notary who will certify the transfer of part and the remainder of the funds for the car, so that both parties are confident in the legality of what is happening.
The third option is to use Trade-in services. These are resellers of cars, which today also deal with credit cars. They themselves will pay off the remaining credit debt for you, they will give the rest of the agreed amount of money to you, re-register the title and the car is no longer yours. But the disadvantage of such companies is that the price of a car is too low, which they are willing to pay. Their services should be used only when there is a very great need.