HomeCan you sell a vehicle that is about to be repossessed so you can pay off the lien?
Wiki User
2015-07-15 21:40:11
2015-07-15 21:40:11
YES, IF-IF-IF you can pay the loan off. The lender will have to be involved in the sale to get the paperwork done.Lenders will NOT release the title until the loan is paid in full. Dont get yourself in a mess trying to do it alone. Find out from the lender what the payoff is and then make sure you have that amount ready to give the lender when you complete the sale. Good Luck
What if creditors already are looking for it/reposession order already out for it? Can this still be done?
Likely the only way to do it is CALL the lender, get the payoff and get that amount to them NOW.They want the money more than the car.....
Related Questions
Either pay off the lien and then sell the vehicle, or sell the vehicle and use the money to pay off the lien.
Pay off the lien is the simplest way. That can be done by selling the vehicle. Hopefully it is worth more than the loan amount, so the estate will have additional assets.
You must pay off the lien. A vehicle with a lien on it cannot be vended (sold) legally. There is no way to transfer a title as the motor vehicle folks will know that a hold (the lien) has been placed on it.
Until you pay it off. If you try to sell the vehicle, the mechanics lien will prevent you from doing so.
No... a vehicle which has a lien against it isn't paid off.
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