If you are selling the car for enough cash to pay off the balance on the loan it is simple. Simply take the buyer with you to the lender and pay off the loan. You will get a lien release that you then take with you and the buyer to your DMV and transfer the car over to the buyer. If you are not getting enough to pay off the loan, then you have 2 choices. Ask the lender to allow the buyer to take over the payments, or pay off the loan with money from another source. You cannot sell the car without a lien release from the lender, so you must talk to the lender.
You cannot sell a car you have a loan on if the lender has a lien on the vehicle. You will need permission from the lien holder to sell the car. If the lender has no lien on the vehicle then you can sell it if you wish. The title will list any lien holder.
If you sell a car with a lien on it, which is a title pawn. You must pay the lien off before the car is clear and you can get the title back.
You cannot sell a car with a lien against it without getting a lien release from the lender. To do otherwise is illegal.
The question should be. Should you ever buy a car with a lien on it. The answer is absolutely not, no, not if you are smart.
How can you be the lien-holder of your own car.
You cannot sell a car for salvage unless you have the title with you listed as the owner with no lean on the car. If there is a lien on the car you cannot sell it without having the lien removed.
In order to sell your car, you must pay off the lien to the IRS first, or find a buyer who is willing to pay off the lien. Only when the IRS has accepted payment can you or someone else receive Title to the car.
It is illegal to sell a car with a lien on it. If it has a lien you will not be able to register the car in your name. The loan must be paid off and the lien released before you can actually own the car. You may have just got scammed.
The lain stays with the mortgage. And if the owner of the mortgage does not settle up with the lien holder that person cannot sell their house, car, boat or whatever the lien is on. They have to pay lien first or sell and before they get the money the amount of the lien will be deducted from total sell
well if you have a clean title with no lien on it, then i say sell the car with that title there should be no problem what so ever. i need to know what happens if i sell a car with a lien on the title (auction car) but the lien does not pertain to me, can the car be successfully transferred to another person ? or what do i have to do to remove this lien ? email me - djhackstyle@hotmail.com
The repair shop can lien the car and sell it.
No. As long as your car has a lien on it, no deal can be made. The lien in this case is what you owe the impound lot, funds that must be paid to release your car.