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What do i need to sell my avalanche? I still owe 8,000 and

What do i need to...
What do i need to sell my avalanche? I still owe 8,000 and im in VA. My wife is in TN with her boyfriend.. the auto loan is from navyfederal ... how does he go about buying the truck from my bank?
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Answered in 3 minutes by:
2/24/2013
JB Umphrey
JB Umphrey, Attorney
Category: Legal
Satisfied Customers: 20,233
Experience: Explains legal matters based on 14+ years experience.
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Welcome and thank you for your question!

Is he prepared to pay for the truck in full right now?
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Customer reply replied 4 years ago

he will probably have to get a loan for it but not really sure how he would do that...

Thank you. You can contact your bank and let them know that you have someone who would like to take over your loan. If he passes their approval process, they will end your loan and write a new loan to him.

If they don't approve him for financing, they you have to ask the bank for the pay-off amount. He'll need that information when he tries to get approved for financing elsewhere. Once he gets approved, that bank will send their check to your bank. Basically, your bank will be selling the car to him.

My goal is to provide you with excellent service – if you feel you have gotten anything less, please reply back. I am happy to address follow-up questions. Thank you for your business!

~~ J.B.
JB Umphrey
JB Umphrey, Attorney
Category: Legal
Satisfied Customers: 20,233
Experience: Explains legal matters based on 14+ years experience.
Verified
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