Need to get cash out loan on F&C vehicle

[patblue03]

Hey,

I sold my vehicle private party with some negative equity still in it. The buyer is very nice and said he could wait for the title. I need to get it to him ASAP but I still have 8k left to pay off. I know, it's a lot. However, i have a free and clear car valued at 9k. How can i go about getting a loan for this to pay off the sold vehicle. My fico scores are about 550.

Please help!

i need to do this asap.

could my old lender take the title from my f&c car to serve as collateral and give me my other title?

 

any advice would be great. thanks!

[MarvBear]

Yes they could.

 

or

 

Citi

American General

Wells Fargo

 

are two or three lenders I can think of that will do that.

 

I would approach them personally in branch rather than online, if you current leinholder does not wish to sub collateral.

[Starsky]

Hey,

I sold my vehicle private party with some negative equity still in it. The buyer is very nice and said he could wait for the title. I need to get it to him ASAP but I still have 8k left to pay off. I know, it's a lot. However, i have a free and clear car valued at 9k. How can i go about getting a loan for this to pay off the sold vehicle. My fico scores are about 550.

Please help!

i need to do this asap.

could my old lender take the title from my f&c car to serve as collateral and give me my other title?

 

any advice would be great. thanks!

 

 

You also want to do it fast not only because it is the right thing to do, but also because you may have very well violated the law and if the lender finds out you have sold the car to a third party and no longer have it in your possession when they have a lien on it it in your name, well that probably won't be a pleasant experience for you.

Edited June 11, 2007 by Starsky

[patblue03]

Update!!!!!!

 

I found DCU and got a loan on the vehicle with my fico.

I just paid off the loan today and got the pink slip over to my buyer.

 

I really avoided a sticky situation there.

 

now i just need to work on getting some lates off of my GMAC account (it's now paid in full). I heard they are usually pretty good with that

 

what a great day!!!!

[MarvBear]

congrrrrrrrrrrrrrrrats