This is more than one question. I hope that's okay.

I cosigned on a loan for a car for my son, age 22. He is unable to make the payments and agrees we need to sell it. The car blue book is about $9,000; however, the lien (through Wachovia) is about $12,000. After I figure out how to pay the $3,000 difference (the tough part), what is the step-by-step process for selling the car? I would like to "sell by owner" and not through a dealership. What are the best Web sites for selling your car in this way?

To find the $3,000, I will either refinance my home (but not sure if I can right now) or use my tax-refund. Any other ideas? (My next question: How to win the lottery. LOL)

You can try craigslist, which offers free listings for your vehicle in your area.

Just a word of advice: you need to have the lien release before you can transfer anything. That's what makes it hard; if you "sell" the vehicle and they get into an accident before they're able to transfer it into their name, it will still legally be your car and you'll be liable.

Generally if you get a buyer then you can contact the bank tell them the situation and they will send you to a department that will help you through getting a loan to pay the balance off. When all of that is completed they will send the title to the new owner.

Hello m:

In addition to donn's good advice, you can take the buyer to the bank that holds the title, and do the transaction right there, in one fell swoop.

You get the money (well NOT in your case), and he gets the title. That way, nobody has to wait or mail anything to anybody.

excon