Best/easy way of getting rid of a broken car?

[Fromk]

Here's the situation. I've got this 2004 Mazda 6 with a busted transmission. It was running perfectly before that. It's dead and I got a "new" car last week. I also have 3 payments left on it which is VERY annoying.

Any recommendations on what to do with it now? I've looked into donating it but that requires a title and no lien which I won't have for a bit. I'm assuming most suggestions will have to wait for that to get squared away and that's fine. Thought I'd open it up here since nobody I work with knows what I should do. I'd like to get something for it ideally.

[StagLefty]

There's salvage places that will pick it up and pay you a scrap fee but you'll need the title. I don't have any contact but I'm sure they're in the yellow pages.

[Zundfolge]

You're going to have to get the lien released before you can really do anything with it.

Contact the lender and see if they won't work with you ... they may release the lien on it so you can sell it even though you owe them 3 payments (but you still have to pay those 3 payments anyway).

[akumadiavolo]

Unless your payments are insane you should be able to sell it for more than you owe on it. Just meet the buyer at the bank, use his money to pay off the loan, then drive down to the local office where the title is being held and give them the pay off paperwork and they will give you the title to give to the buyer. I did that when I sold a car a year ago or so.

[glock21]

Ill take it and pay the last 3 payments lol.

[Mtn.man]

Unless your payments are insane you should be able to sell it for more than you owe on it. Just meet the buyer at the bank, use his money to pay off the loan, then drive down to the local office where the title is being held and give them the pay off paperwork and they will give you the title to give to the buyer. I did that when I sold a car a year ago or so.

He stated it was DEAD

[BPTactical]

Shoot me a PM- my kid needs a car badly, he has a mechanic at his work and he may have an interest as long as it is saveable

[mcantar18c]

Unless your payments are insane you should be able to sell it for more than you owe on it. Just meet the buyer at the bank, use his money to pay off the loan, then drive down to the local office where the title is being held and give them the pay off paperwork and they will give you the title to give to the buyer. I did that when I sold a car a year ago or so.

I've been on the buying side of this situation. Worked out well for all involved.
If you can find a buyer, this would be a good way to go. Post it up on Craigslist and see what comes of it.

He stated it was DEAD

No, he stated that it has a busted tranny. This could mean he just needs a new torque converter or some new synchros... worst case it means a transmission swap which while a PITA isn't all that difficult.

[Zundfolge]

All the 2004 Mazda 6s on Craigslist are in the $7500-$12000 range so it seems to me it would be worth the expense to fix the tranny and sell it.

For some reason I was picturing a much older and beat up car.

[Fromk]

Wow. That's a lot of useful replies in not a lot of time! Thanks!

To clarify "dead" I meant to me. Without the cash to pay for the repair I was left in a tight spot and went for a car that was less than the cost of fixing it and frankly better for me right now. This was a situation my bank was way happier to help me with. It's just the way the chips fell.