How to Get Rid of a Car That I Owe Money on

Video Transcript

"How to get rid of a car that you owe money on. Well if you are in an inequity position, in other words you owe more money on the car then what it's worth, the best thing to do is get rid of it as soon as you can. Just go ahead and cut your losses because it's not going to get any better unless you're going to hold on to it for a long time and make it a collector's item. The best thing to do is stick it in the paper and the way I always like to word it is exactly what kind of car it is. So in other words if it's a 2008 Volvo, put it as a 2008 Volvo, put that it's an XZ90, put all the different features on that car and then put please call must sell, will accept any offer. That doesn't mean that you'll take the offer, that means that you will accept any offer and the idea is to get the phone ringing. Once the phone rings the idea is to get them there and not go over too much on the car, let them come see the car and obviously you'll have the car clean and ready to be shown."