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.
16,535

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
61,085

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 13,339 nationwide Impreza listings starting at $1,817.

ZIP:

Search Subaru Impreza Questions

Subaru Impreza Experts

#1 TheSubaruGuruBoston
TheSubaruGuruBoston
Reputation 530
#2 FordNut
FordNut
Reputation 490
#3 Nick Eidemiller
Nick Eidemiller
Reputation 450
View All

Related Models For Sale

Used Subaru Impreza WRX
38 Great Deals out of 1,140 listings starting at $1,500
Used Subaru Impreza WRX STi
29 Great Deals out of 584 listings starting at $9,000
Used Subaru Outback
299 Great Deals out of 29,744 listings starting at $1,200
Used Subaru Legacy
206 Great Deals out of 16,085 listings starting at $1,300
Used Subaru Forester
254 Great Deals out of 22,778 listings starting at $1,499
Used Honda Civic
669 Great Deals out of 77,405 listings starting at $1,000
Used Mazda MAZDA3
249 Great Deals out of 29,973 listings starting at $895
Used Honda Accord
812 Great Deals out of 81,598 listings starting at $899
Used Mitsubishi Lancer Evolution
24 Great Deals out of 632 listings starting at $14,995
Used BMW 3 Series
1,378 Great Deals out of 37,817 listings starting at $1,500
Used Ford Focus
699 Great Deals out of 58,603 listings starting at $995
Used Toyota Corolla
871 Great Deals out of 74,381 listings starting at $1,500

Used Cars For Sale

2017 Subaru Impreza For Sale
8,336 listings starting at $16,715
2016 Subaru Impreza For Sale
35 Great Deals out of 937 listings starting at $15,990
2015 Subaru Impreza For Sale
20 Great Deals out of 552 listings starting at $12,999
2014 Subaru Impreza For Sale
32 Great Deals out of 842 listings starting at $10,950
2013 Subaru Impreza For Sale
25 Great Deals out of 702 listings starting at $7,999