Having any debt is bad. Especially having a car with debt. If it is a financing problem or any other problem, the best option is to sell the vehicle. That's because debt only tends to increase over time. Therefore, in today's article we are going to tell you everything about the car with debts. In addition to telling you if it's better to pay off or sell the car.

Selling or transferring your vehicle can involve several bureaucracies. Therefore, it is essential to get organized first. Understand what your debts are and only then think about whether it is necessary to sell the car. If the answer is still yes, then there are several documents and processes to be done.

Keep reading and we'll make it all simple for you!

Maintaining a car is very expensive. Even more in current times, with gasoline at heights. If you live in large centers, then this value only goes up. For this reason, it is increasingly common for people to get into debt with their car. Thus, the solution found is to sell the car. But how does buying a car with debt work?

First, calculate all your debts. This is the only way to understand whether your car is really worth selling. Sometimes with a financial reorganization you can already pay off the debts and the car. However, if it still doesn't work, selling the car is the solution.

However, not all debts can be passed on to a new owner. For example, to sell a vehicle, it cannot have any debt with the National Traffic Department (DETRAN). That is, you can't have any fines.

The owner must pay off all debts before selling the car. The reason is because at the time of sale, it is necessary to issue a new Vehicle Registration Certificate (CRV). And for that, you need to have some discharges like the fine. Some other discharges, such as the mortgage, can be passed on to the next owner.

If your car's debt is financed, it can be sold. However, it will be necessary to go to the bank and transfer the financing to the new owner. The new buyer must make sure that he can afford the debt. That is, having a credit limit at the bank to take on the financing.

An option that also works is to sell your car directly to a dealership. There are several stores that assume the car debt at the time of purchase.

Do not forget, at the time of sale it is necessary to issue a statement to the Detran. This happens to prevent the new buyer from undue debt. For example, the new owner buys the car and out of nowhere fines start appearing in his name. For this not to happen, it is necessary to notify the Detran and the responsible entities.

After negotiating the purchase, it is necessary to transfer the car to the new owner. This can be done even with the debt still on the car. Unless the debt is fines with the Detran. In that case, the pending issues must be settled.

However, financing, for example, can be transferred to the new buyer.

For this, you must issue a sales notice. It is done with the Detran and must be notarized for real. If your sale is made by a store, it works the same way. The difference is that the store will probably solve the whole situation for you.

In addition, you have to pay a transfer fee. The amount of the fee varies from state to state. Be aware, not transferring the car after 30 days of sale provides for a serious fine of R$195.23 and loss of 5 points in the license.

Another factor to be aware of: if your debt is with financing. When selling a financed car, the debt continues to exist and passes to the next buyer. Therefore, in the negotiation phase, the ideal thing is for the seller and buyer to attend the debt bank. There the bank will check if it is possible to transfer the debt. That is, if the new buyer can afford the amount, if he has credit with the bank.

During this financing process, the car is alienated. Therefore, it belongs to the bank until the debt is paid off. Therefore, the bank should always be an intermediary in the sale of cars with financing debts.

After checking all these factors, it's time to transfer the car with debts. For this, it is necessary for both parties to update their registration with the Detran and the National Register of Motor Vehicles (RENAVAM). Typically, the required documents are:

In addition, it will be necessary to apply again if the buyer and seller do not reside in the same municipality.

As we mentioned at the beginning of the text, this depends on your reality. If after sitting down, reorganizing finances and cutting expenses, it is still not possible to pay off debts and pay off the car. So selling might be the best option. 

However, it all depends on your financial reality. Evaluate, but don't create more debts to get out of yours. With planning everything can work. So, stay out of debt. Do your financial planning.

Put expenses such as maintenance, taxes, fees, insurance and even fuel at the end of the paper when buying a car. Only then will you know if your pocket is ready to have a new vehicle.

But is buying a car with debt worth it? Find the answer in the recommended content below.