When buying a car on credit, few people think about the fact that after a while they will want to sell it without paying off the debt. It is impossible to deregister such a car from the traffic police and re-register it to another person, since the traffic police contains a letter from the bank imposing a ban on re-registering the car. However, there are loopholes in the legislation that can be used for your own purposes.
Instructions
Step 1
Carefully study your loan agreement with the bank, which was drawn up when buying a car. And if it does not contain a ban on the sale of cars and the issuance of a power of attorney for management, then, by agreement with the buyer, you need to go to a notary and write a power of attorney. Then, when the money from the sale of the car is in your hands, you need to repay the remaining amount of the loan to the bank. After that, the bank will send an official letter to the traffic police to pay off the debt, and you can easily re-register the car for the buyer.
Step 2
Contact the bank to conclude an additional agreement and provide the bank with additional guarantees in the form of an obligation to repay the loan. If the bank agrees to you, then you, in the usual way, conclude a purchase and sale agreement with the buyer and, after receiving the money, pay off the debt on the car loan.
Step 3
Contact the bank and provide it with a deposit equivalent to your car (for example, a land plot, house, apartment, etc.). In this case, the bank will lift the ban on the sale of the car and will impose a ban on the sale of the real estate provided by you as collateral. Next, you draw up a sales contract with the buyer of the car. You receive money and deposit it as a loan repayment. As soon as the car loan is repaid, the bank will lift the ban on the real estate you have provided as collateral.
