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How do you sell a car on which you still owe money?

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Contact your lender for an exact payoff balance and ask to make sure they physically have the title in their possesion. Have your buyer bring two cashiers checks - one to you for the amount in excess of your loan balance and a second made out to the lender to pay off the loan. Most lenders will then sign off on the front of the title, releasing their lien, and give or send it to you. You're then required to sign off as the registered owner and give the now "free and clear" title to your buyer to be transfered into their name. If you are selling your car for less than what you owe on it, you'll have to come up with the difference to make the payoff and obtain the title.
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