answersLogoWhite

0


Best Answer

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?!

User Avatar

Wiki User

โˆ™ 2010-03-18 05:06:26
This answer is:
User Avatar
Study guides

Add your answer:

Earn +20 pts
Q: 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?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Can you sell a car without the title?

Yes, the buyer needs to know before buying. You can get the money, pay off the car and get the title in the mail within 2-3 weeks. Then sign it over to the buyer. It is suggested that you don't let the buyer take the car until the title is in their hands.


Can a purchase be made on a property with defective title?

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.


What do you do if you buy a house and find out it has a lien on it?

You need to pay the lien. A prudent buyer has the title examined before purchase. That way, liens are disclosed and the seller must pay them out of the proceeds of the sale. Then the buyer takes title free and clear of liens.You need to pay the lien. A prudent buyer has the title examined before purchase. That way, liens are disclosed and the seller must pay them out of the proceeds of the sale. Then the buyer takes title free and clear of liens.You need to pay the lien. A prudent buyer has the title examined before purchase. That way, liens are disclosed and the seller must pay them out of the proceeds of the sale. Then the buyer takes title free and clear of liens.You need to pay the lien. A prudent buyer has the title examined before purchase. That way, liens are disclosed and the seller must pay them out of the proceeds of the sale. Then the buyer takes title free and clear of liens.


What do you do with a car title when you sell the car privately?

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.


How can you avoid repossession by selling the car yourself without the title?

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.


How can you sell a car for parts without a title?

Yes you can .You must tell the buyer that the car has no title and the parts are sold as is.


How do you sell a car if the money from a private party will be used to cover what you owe on the title?

Take the buyer & title to the car with you to the lender that holds the lien on the vehicle. Use the money he is paying you to pay off the loan and get a lien release from the lender. Sign the car over to the buyer at the lender's place of business. Take this lien release and the title with you and the buyer to your DMV, and transfer the car into the buyer's name.


Can you junk a vehicle without title if the loan company refuses to repossess the car?

ONLY if you can find someone to buy it without a title. NO buyer, NO seller.


Can you sell a car without having a title for it?

I know in MA that the title is considered a legal document. You are not allowed to sell a car without the title.


What is a purchase money first mortgage?

A purchase money or first mortgage is the mortgage granted in order to purchase the property. It usually indicates that the title was examined, a certification of title was issued by an attorney and a title insurance policy was written.


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

Let the potential buyers know that the title still needs to be paid off. First they pay you, you create a bill of sale for them and hold onto the car. Send in the money and wait for the title. When the title arrives, sign it over to the buyer and give them the keys. It is a pain for the buyer to wait, but you shouldn't let them drive off without a title. You would be liable for an accident if they are in one, until the title is signed over.


Is it good not to tell the buyer the house has a lien on it?

No. That is not morally good nor is it legallygood. A prudent buyer has executed a purchase & sale agreement wherein you agreed to convey good title free and clear of any liens or defects except the ones that have been disclosed. Also, a prudent buyer is represented by an attorney who will arrange a title examination. The title examination is required by the bank that will extend the purchase money mortgage and will reveal any outstanding liens. Those liens must be paid before the property is transferred.

People also asked