if a car is a personal loan against it cani sell it finance comp tells me it is per loan dont understand?

need to change car a repayments are to high want a run around i am told my finance is a personal loan can i sell the car buy a cheaper one from the dealer and send the difference to finance company dont want to go to garage and be told that i have finance on it and cant sell.what does the personal loan mean

Public Comments

1. A personal loan is just that - a loan to you, with no reference to what the money will be used for. I guess this was from your bank. Buying a car from a dealer using their finance would result in a loan tied to the car. So, with a personal loan, the car is not linked to the money, and you can sell it. With a dealer arranged finance, you can still sell the car, but outstanding finance would have to be paid off at the point of sale. Best of luck, take care.
2. You can refinance a car. You get a used car loan and they pay it off to the other lender. Your question is a bit hard to understand. It almost looks like you say a personal loan against the car. A personal loan will not be against the car. Who holds the title to the car and is there a lien holder listed on the title? If you have the title and there is no lien holder then i would think you can do what you want with the car.
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