Financial reasons dictate that I need to sell my Z (2003 used from a dealer) a week after buying it. I know I will be taking a hit but I have no choice. My question is how the technicalities work when a private seller need to sell a car with a $22,000 loan on it. Does the buyer give me a check and I call the bank to have the title transferred. How does this work? Also how long before the title comes in so I can give it to the new owner? Thanks.

 

You have the seller get a cashiers check made out to you and the bank. You sign it and send it to the bank. You can get a power of attorney for vehicle transfers and the bank will send the title directly to the seller. Or, you will receive the title and then give it to the seller.