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Can a person that still is paying the bank for a car sell the car to an private individual?
Wiki User
∙ 13y ago
No, because a person who is still paying on a car does not have the title. They would have to pay off the bank to obtain a clear title either first or as a part of the transaction (this is essentially what happens when you trade-in a car you still owe on at a dealership... you sign contracts agreeing to transfer your interest in the vehicle, the dealership gives part of the money to you (possibly in virtual form, meaning they instead reduce the price of the car you're buying by that amount) and pays off the bank with the rest).
Wiki User
∙ 13y ago
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