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If you do not have the money to pay off your lien until you sell the car and no buyer would purchase the car without the title how do you sell it?

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2010-03-18 05:06:26
2010-03-18 05:06:26

find the title

Locate where the physical title is being held by your lienholder and explain that you are attempting to sell the vehicle. They should be able to have it ready for you at a local branch where you could conduct the transfer of funds and paperwork to the new owner. Make sure to get copies of the lien release and that the title also indicates that the lien has been released. It would all go rather smoothly and should not scare any potential buyers off. If your lienholder is not local to you however, you should contact them as they would most likely have a process for handling such a common transaction. If not you could always trade it in at a dealership?!

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You cannot "sell" a car without the title because the title is proof of ownership. Without the title the buyer can't register and insure the car.

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Take the title along with the buyer to your local DMV and have the car transferred over from you to the buyer. Do not sign the title over until you have the money in your hand, and do not let the buyer have the car until you have it transferred out of your name.

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You cannot "sell" a car without the title because the title is proof of ownership. Without the title the buyer can't register and insure the car.

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If you need to borrow money to make the purchase the bank will require that the title defect be resolved before it loans purchase money. If you plan to pay cash there is nothing to stop you from purchasing land with a title defect. However, you will encounter problems if and when you try to sell. Under normal circumstances a proposed buyer's attorney arranges to have the title examined prior to purchase. Any defects disclosed by the title examination must be resolved before the buyer takes ownership. You haven't mentioned the nature of the title defect. Title defects can be extremely costly to correct.


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