How Hard Is It To Sell A Financed Prius?

qdllc,

Sorry to hear of the unfortunatle news and here's hoping that you'll quickly land a new job and won't have to part with your Prius.

IIRC, as opposed to a lease, you wont' be able to get someone to take over the payments on your Prius. You'll be able to sell the vehicle, either to a dealer or a private party. If you aren't able to sell it for the balance on your note, you'll likely be required to come up with the difference, out of pocket, as TFS won't continue to hold a note against an asset you no longer own.

Hope that's helpful and best of luck.

 

Best to call your lender and talk options. Sometimes they will let someone sorta take over the payments, its actually a new loan for the buyer that pays off your old loan. Since the lender is holding all the cards, they can make it much easier for you if they are in the loop.

 

Find out how much you own Toyota and how much your car worth, it maybe wise to sell it at CarMax and walk away. It is best to cut other expense and not your main ride if you are losing your job. Don't you need a car to find a job? or you got an extra car to use.

 

I'm sorry about the job.

Find out what you owe and what the car is worth....and get an idea of what the banks will loan on the car.
Selling it sans title isn't hard.
Getting a good price might be.

Sometimes credit unions have a "Swap" letter, like classified adds that members can post to.

The used car market is pretty hot right now, and even though gas is less than $3 a gallon in most of the country, Priuses have a high resale value. Since most people won't have $19,000 in their wallet, the transaction becomes one of their bank swapping paper with your bank and you swapping keys with the buyer.

You're already going to lose a little money on the sale.
Don't compound it by rushing into a quick sell.

Good Luck!

 

I have sold 3 cars to Carmax, they will offer you a fair price, and do all the paperwork. You may want to stop in a store and see what they can offer you.

 

Not sure why you guys are all willing to give the OP your opinions about how to get rid of his car, when he does not even have the courtesy to even reply back to your great suggestions.
He is in the same situation as any other persons who has made a bad decision about buying a car, whatever he decides to do, he will lose in the end anyways.