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Can you sell a vehicle if you have the title but the loan is through a bank n you still make auto loan payments?
If you still owe the bank, then the bank should be listed as a lien holder on your car title. In effect, they own the car, not you. If you were using the proceeds of the sale to pay the car off, then you may be ok. Check with your bank. Otherwise, you could be violating the law by selling their collateral. They could sue you and have you charged with a crime.
What else can I help you with?
Bank won't release title?
A bank won't release the title to a vehicle until it has been paid in full. This is done to prevent the vehicle from being sold while payments still remain.
If someone co-signs on a car, are they listed on the title?
No, a co-signer is not listed on the title of the car. They are responsible for the loan if the primary borrower fails to make payments, but they do not have ownership rights to the vehicle.
If you still owe a bank on a loan would you be able to transfer title to another state?
Sure. Just let the bank know where you're moving to and keep up the payments or they'll default the loan and repo the vehicle. (Repossess) That'll cause you serious credit problems and loss of vehicle that you still have to pay for. The bank will track the vehicle by the VIN (Vehicle Identification Number) and you'll end up with more headaches then the car is worth.
Can you explain how financing a car through a bank works?
Financing a car through a bank involves borrowing money from the bank to purchase a vehicle. The bank pays the car dealership on your behalf, and you repay the bank over time with interest. The bank holds the title of the car until the loan is fully paid off, and if you fail to make payments, the bank can repossess the vehicle.
Why is my co-signer listed on my title?
Your co-signer is listed on your title because they are legally responsible for the loan used to purchase the vehicle. This means they have a financial interest in the car and are liable for any missed payments or damages.
When someone assumes your finance payments are you no longer responsible for the vehicle?
IF you transfer the title and loan out of your name you are not responsible. IF NOT, and they don't make the payments, or have insurance on it, YOU are responsible for all aspects of the vehicle as you still OWN it. the name on the title & loan is the responsible party.
Bank won't release title?
A bank won't release the title to a vehicle until it has been paid in full. This is done to prevent the vehicle from being sold while payments still remain.
If you have not paid your car payments for over 3 years can you file a lost title and sell or get the title?
No, you can only replace a lost title. If the vehicle had a lien from the bank, a replacement title will still show the lien.
What do you need to repossess a vehicle in Nevada?
You have to posses the title on the vehicle and the documentation that there is a default in payments.
Can I legally sell my car before I have paid for it?
No you can not. I would assume that whoever you have it financed through still has the title. You cannot sell the vehicle until the title is in your name. The person that you are selling it to may pay you what you want and then take over the payments if your financial institution allows it.
If the cosigner is on the title can they take vehicle if person is not making the payments?
Yes..... I did
In Texas you are making regular payments on repair work though not the amount agreed Still payments are regular The mechanic shop repoed your car adding 1000 to the amount owed Do you have any rights?
If you signed over the title to him as collateral, and you defaulted on the payment plan, he can take it. If YOU still have the title, it is comsidered an open account and he committed felony vehicle theft if he took it.
If you have a clear title in your name can a company sue you for vehicle back saying you still owe money even though you have been making payments?
not technically. once the title is in your name that basically states that you've paid for the car in full and now were giving you the title to prove it
Do you need a title to sell your auto?
If the vehicle is paid off yes...If you are still making payments and you want to sell to an individual you will need to talk with your lienholder. If you are selling to a car dealer they will handle it for you.
Can a cosigner in California take possession of a vehicle if the primary borrower is not making the payments in Georgia?
Only if the cosigner is also named on the vehicle title.
Is there a way to get your title if you still owe on the vehicle?
The buyer/borrower should have a copy of the title, as it is needed to register the vehicle. The title will have the name of the buyer and the name of the company holding the lien on the vehicle.
How can you find out if the bank still owns your car if you never registered the car in your current state?
If you possess the title, then you own it. If you've been making the payments, you should know whether or not you've defaulted on them. If you haven't finished making the payments, the financier owns that vehicle.
