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If you sell a car and still owe the bank how do you get the title from the bank?
you need to have the buyer fill out the Bill of Sale, and get the money before the title is handed over.
What should you tell a buyer who has paid for the car but must wait for you to receive the title and sign it over?
Give the buyer a notarized bill of sale and state on the bill of sale that the title will be forwarded when received from the issueing entity (the state)
What has to be done to transfer the title and registration to another person?
You can't transfer a registration. If you are selling a vehicle, all you have to do is sign the back of the title. The buyer will need to pay the property taxes on it and take that receipt and the title to their local dmv, fill out a form and pay the registration and title fee and they will get a registration and title in their name. If the seller has recently paid the property taxes on that vehicle, they can get a copy of the title after it is signed over to the buyer and take it to the auditors office and can get a refund on the taxes thay have paid. Pro-rated of course. Asigned release of liability needs the odometer reading on it prior to buyer leaving with car, seller sends this to DMV with sale price and both parties info. You also need a bill of sale or a power of attorney form in California with the sellers drivers licence number, address, and the buyer needs to take the title and bill of sale to DMV (California)
Can you sell a car that you have a loan on by giving the car to the buyer using his money to pay off the loan and then mail him the title?
Yes you can sell your car that has a loan it. The easiest thing to do is if you sell it locally and you have the car financed at your local bank, have the buyer go with you to your bank. Pay of the car with what you sold it for. The bank usually has the title to your car. They will pull your title from your file at the bank, turn it over to you, and all you will have to do is sign the back of the title as the seller and hand it over to the buyer. Be sure to print or write a bill of sale, both buyer snd the seller will sign and each of you will have a copy. Use the bill of sale to protect yourself. Note in this document that this car is being sold as is, where as, no warrany. This is also protects you against any legal action. Whatever that car is used for after this transaction is not your responsibilty so be sure to file your copy of the bill of sale. Also include the complete vin#, make model, color, ect, and the date of sale. When you sell your car you should take the buyer to your bank (if possible) and pay off your loan. Then when you get your title you can sign the back and get it notarized if needed in your state. Most knowlegable people would not pay you for an auto without getting the title. This is the true ownership document. Why would you trust a stranger to mail you this document? If that car was used in a crime or involved in an accident the owner is the person listed on the title. Also the buyer would want to be guaranteed the loan was paid off and the lien was removed.
Do you need a bill of sale when transferring a title?
Yes, a bill of sale is typically needed when transferring a title to provide a record of the transaction and to protect both the buyer and seller.
How do you transfer the title of a motorcycle with a signed title but no bill of sale I bought from a pawnshop The guy they lost it had pawned it He signed the title but left no bill of sale?
The bill of sale would be the receipt from the pawn shop where you purchased the motorcycle. You fill in the buyer info on the title.
What is exchange bill?
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
How can a financed car be sold?
You should be sure to get at least what you owe on it. When the buyer pays you, send the payment to the bank, wait for the title, sign it over to the buyer and give him the keys. When you receive money, be sure to sign a bill of sale (date, vin #, both names, and agreement to sell the car).
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.
What is Discounting bill of exchange?
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
What is discounting bill exchange?
It means when holder of a bill needs money he can take the bill to bank where the bank will discount it and chargesome interest on that
How can you get a copy of a bill of sale at a car auction?
You can get a copy of the purchase receipt from the auction if you are the buyer however car auctions don't work on a bill of sale. They have the title follow the car from seller to buyer. If the seller fails to provide the title prior to the start of the auction they are charged a fee which is typically around $50. They have 30 days to produce the title to the auction. If they fail to do so the buyer can return the car to the auction and get a full refund of purchase price.
