My car (year 1994) is on a 5 year finance deal. This year is my 3rd year paying and I have 2 years to go. However, I want to sell it/exchange it and let the next person continue the finance contract. My question is, if I want to buy another second hand car, can I just give the dealer my current car and get the dealer's car? In other words just swap? Or do I have to finish paying it before I can sell it?

Several problems - you have signed a binding document that makes you liable for all payments.

I would clean it up and sell it outright, minus the bank payoff - that leaves you in the clear, providing you

settle the contract difference with the bank. Always inform the bank of your intentions - they probably would

like to retain your business.

The person you sell the car to, might not pay or wreck the car and they will come after you - even if you cede

the contract to another and have them sign personally.

Trading the vehicle in on another is one way to lose any equity you may or may not have.

There is not free lunch.

BR>Jack

I sold a two year old civic that was still on HP and drove off in a new accord. just go to a dealer and they will buy your car and pay off the finance and you will get whatever is left. then go get your new car. I did it through Honda and they called in a dealer they know to buy the civic off me. the Finance guy was there as well. very easy. if you go for a used car it should still work the same, but I would do it with the same dealer that you will buy the new car from.

I have a car that was bought on 20 % downpayment, the rest financed over 6 years (stupid, too long). The car is now 3+ y.o. and I would like to get rid of the debt now that I still have some bank savings. I have two children, living on a pension and we use more than the pension almost every month

I have payd half of the 72 installments. If I want get rid of the debt now, is there any way I could negociate with the finance company / bank to just pay half of the original debt + some compensation, and then everybody is ok.

It feels kind of stupid to pay a high interest for the remaining 36 months even if the debt is cleared.

Anybody knows?

Thanks