How do I sell my brand new car? I have a loan payment through Toyota?

I bought a 2008 Toyota Corolla in October and now I am ready to sell it. I took out a car loan through Toyota and make monthly payments. When I sell, do I ask for a money order, or do they take over my loan payments? How can I get credit for the money I put on it already (downpayment etc)? Thanks!How do I sell my brand new car? I have a loan payment through Toyota?The simplest way to do this is to just get a buyer who has their own financing. Get them to give you a cashier's check from a bank. Use that money to pay off your car loan.How do I sell my brand new car? I have a loan payment through Toyota?
Due to depreciation, you usually owe more than fair market value on a new car for the first couple of years before you break even on it. So you can forget about making any profit if you sell it. If you can find someone acceptable to the bank, they might be able to get a loan and pay off your car, but that's doubtful since you owe more than it's worth probably.



They can't just "take over" your payments.How do I sell my brand new car? I have a loan payment through Toyota?Credit for the money you put down? Ha ha ha ha ha. That's a good one.



Disclose to the buyer that there is a loan through Toyota. Get the payoff amount from Toyota. this is the amount that YOU are responsible to pay Toyota to have them release the title to the buyer. You should try to sell the Corolla for at least the payoff amount. Anything over this amount, you keep; if you sell for less then the payoff amount, you have to make up the difference.



When the buyer pays you, have them make the certified (or cashier) check payable to Toyota (actually the buyer will or should request this). Make sure you have a Bill of Sale (contract) detailing the purchase (price, car, VIN #,) and the terms of the contract. do a google search on car contracts for examples.How do I sell my brand new car? I have a loan payment through Toyota?
Chances are you will not even get the payout amount for your car so you probably will NOT get any credit for what you have paid so far. You stand to loose a lot of money if you sell the car that soon..How do I sell my brand new car? I have a loan payment through Toyota?not to be smart...but good luck