How do I trade my car with another private party if I still owe on my loan?

My car doesn%26#039;t get great mileage, so I am toying with the idea of trading it for a different car. More than likely another private party rather than a dealership. However I still owe money on the loan(about $7k). I dont plan on them or myself adding any cash, just a straight up trade. Is this possible? How do I go about doing so?
How do I trade my car with another private party if I still owe on my loan?
Do you have the title? I don%26#039;t think you can do that without the title.
How do I trade my car with another private party if I still owe on my loan?
The loan will have to be paid in full, obviously. The person you are trading with will WANT A TITLE so they can register the car and get tags. Tags are important, if you%26#039;re planning to drive the car somewhere.





So - just pay the loan off, and then trade. Simple.





When people trade cars at a dealership, they borrow money using the new car as collateral. They use that money to pay the old loan off IN FULL, immediately, every time.
Reply:How do you have a title when there%26#039;s a lien on it? If there%26#039;s a lien, then the finance company owns the vehicle and has the title. The finance company will want their money. You could do a legal agreement where the other party will take over your payments, perhaps.