I have a car loan and would like to pay it off to receive the title and sell it. Then purchase a used car, is that possible?

Asked by Apr 10, 2015 at 04:58 PM about the 2007 Subaru Impreza 2.5 i

Question type: General

I have a 2007 subaru impreza 2.5i and I
would like get a wrx or an sti but I have a
car loan that will last me 4 years or so, and i
was wondering is it possible to pay off that
loan, sell it, and purchase another vehicle.
Is that even a possibility?

3 Answers

10

I do believe so because after the loan is paid off your free to do with the car as you please and if you don have a loan out due to the fact that you have already paid it off I see no reason why you would be denied a loan again on a new car

1 out of 1 people think this is helpful.
15,605

How much equity do you have in your current car? Actually, you're probably better off skipping the WRX STI as it will cost you more to insure, repair, gasoline than the Impreza. And, if you have four more years to pay, you likely don't have a lot of money to put down on the WRX STI. By the way, don't go to the dealership and ask them to finance your current car into the cost of the newer WRX STI. A lot of people do this and get screwed by the dealer. It's a very bad financial move.

Best Answer
58,885

Absolutely! Call the lender to find out exactly what the current payoff on the loan is. Then send them a check. It's really that simple. Then you'll get the title and you can sell the vehicle. HTH. - Jim

Your Answer

Add photo

Related Questions

  • Haw do I cool down my subaru wrx 03. Im mot sure do I just leave the car running for bout 1 minute 17 answers

    2003 Subaru Impreza

    -

    General

  • Do 2015 CVT Subaru Imprezas have an oil consumption issue? 39 answers

    I am considering buying a 2015 Subaru Impreza and wondering if it might suffer from excessive oil consumption. I have asked Subaru about this and they say that oil consumption has been an issue with s...

    2015 Subaru Impreza 2.0i Limited

    -

    General

  • Impreza fuel economy 27 answers

    I have noticed that the Subaru Impreza "non turbo models" seem to consume alot of fuel on urban driving, I can barely get 20 MPG in the city. While on the open roads and highways I can get up to 40 MP...

    2007 Subaru Impreza 2.5 i

    -

    General

  • A random wire 19 answers

    I was looking in the trunk of my car and realized there is a wire just hanging down and i was wondering if anyone might no what it is. I do know that its not to any of my taillights, because they al...

    2004 Subaru Impreza 2.5 RS

    -

    General

  • Extremely poor milage on new used car purchased 14 answers

    Hi, bought 1995 Impreza 2.2l awd car for son. First Subaru for us. Milage is extremely poor. He claims a 25 mile mostly flat highway trip uses over 1/4 tank. Has repeated this behavior several ti...

    1995 Subaru Impreza L Wagon

    -

    Maintenance & Repair

Impreza

Looking for a Used Impreza in your area?

CarGurus has 10,618 nationwide Impreza listings starting at $1,495.

ZIP:

Search Subaru Impreza Questions

UK Questions

Are you a UK consumer? CarGurus now has a discussion forum in the UK.

Subaru Impreza Experts

#1 TheSubaruGuruBoston
TheSubaruGuruBoston
Reputation 490
#1 FordNut
FordNut
Reputation 490
#3 Nick Eidemiller
Nick Eidemiller
Reputation 440
View All

Related Models For Sale

Used Subaru Impreza WRX
38 Great Deals out of 1,173 listings starting at $2,795
Used Subaru Outback
366 Great Deals out of 25,649 listings starting at $1,000
Used Subaru Impreza WRX STi
22 Great Deals out of 571 listings starting at $12,995
Used Subaru Legacy
198 Great Deals out of 15,037 listings starting at $900
Used Subaru Forester
333 Great Deals out of 20,050 listings starting at $1,382
Used Honda Civic
937 Great Deals out of 68,319 listings starting at $1,500
Used Mazda MAZDA3
398 Great Deals out of 27,739 listings starting at $1,200
Used Honda Accord
1,081 Great Deals out of 76,804 listings starting at $1,395
Used Mitsubishi Lancer Evolution
23 Great Deals out of 672 listings starting at $13,977
Used BMW 3 Series
1,531 Great Deals out of 39,676 listings starting at $1,495
Used Toyota Corolla
1,081 Great Deals out of 64,189 listings starting at $1,595
Used Ford Focus
960 Great Deals out of 59,072 listings starting at $1,395

Used Cars For Sale

2017 Subaru Impreza For Sale
5,536 listings starting at $18,615
2016 Subaru Impreza For Sale
21 Great Deals out of 956 listings starting at $15,999
2015 Subaru Impreza For Sale
24 Great Deals out of 528 listings starting at $12,967
2014 Subaru Impreza For Sale
23 Great Deals out of 738 listings starting at $11,250
2013 Subaru Impreza For Sale
39 Great Deals out of 821 listings starting at $8,995