How to sell a car with a lien?
#1
Registered User
Thread Starter
iTrader: (6)
Join Date: Feb 2006
Location: Boise, ID
Posts: 733
Likes: 0
Received 0 Likes
on
0 Posts
How to sell a car with a lien?
Hey guys, I'm wandering if anyone on here has previously sold a car that had a lien on it? I'm considering selling the Z and I have a loan on it.
If anyone has done this, please let me know what steps you went through? I dont understand how a buyer would trust you to take their money and then wait around for the title to be handed to them a week or two later.
Any info/advice is appreciated!
If anyone has done this, please let me know what steps you went through? I dont understand how a buyer would trust you to take their money and then wait around for the title to be handed to them a week or two later.
Any info/advice is appreciated!
#4
Registered User
Join Date: Jul 2005
Location: Houston, TX
Posts: 719
Likes: 0
Received 0 Likes
on
0 Posts
call up a local dealership, talk to a used car manager, ask if they can do an "IN and OUT" for you and how much they charge...then you take the car in, they buy it from you, and get the other person signed up, financed or whatever...then they will cut you a check after everything clears...and they'll handle all titling paperwork...
#5
Registered User
iTrader: (1)
Join Date: Apr 2006
Location: Los Angeles
Posts: 603
Likes: 0
Received 0 Likes
on
0 Posts
I just took the purchaser with me to the lien holder (in my case a credit union). The purchaser paid off my lien, and I pocketed the difference. It took about an hour to get everything squared away.
#6
350Z-holic
iTrader: (22)
Join Date: Jul 2003
Location: Texas
Posts: 13,983
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by ZedNewbie
I just took the purchaser with me to the lien holder (in my case a credit union). The purchaser paid off my lien, and I pocketed the difference. It took about an hour to get everything squared away.
Trending Topics
#11
Registered User
Join Date: Jul 2005
Location: Houston, TX
Posts: 719
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by zand02max
+1, go to the bank with the buyer or let the dealer take care of it. I would opt for option #1 as the dealer will rape your a$$ on a trade!
#12
Registered User
iTrader: (1)
OUch!? So I'm thinking about trading in the Z for a brand new G coupe late next year. Some tell me to sell it, but I don't want to deal with calls if someone starts b!tching about every lil problem that creeps up (we all know this as owners). I'd rather trade it in for some value (KBB $17k at best right now) and not deal with buyer problems. Eh?
#13
Registered User
1) Find a buyer
2) Agree on a price
3) When your buyer gets his loan, his bank pays your bank, your bank releases the title and cancels teh lien, and you keep the difference.
Really, nothing to it. Its done all the time.
bill
2) Agree on a price
3) When your buyer gets his loan, his bank pays your bank, your bank releases the title and cancels teh lien, and you keep the difference.
Really, nothing to it. Its done all the time.
bill
#14
Master
iTrader: (3)
Join Date: Nov 2003
Location: SF Bay Area
Posts: 2,556
Likes: 0
Received 0 Likes
on
0 Posts
1) I had the new owner cut a check to the lien holder for the balance of the loan and another one to me for the difference.
2) Had the new owner send the check to the bank to get his owner cert (pink slip) He was a cash buyer.
Another time:
1) Had the new owners bank cut a check to the previous bank for the cert.
2) Had the new owners bank cut me a check for the balance. Done Deal.
It's not the previous owner that you need to trust when buying or selling a car. It's the bank. If you can't trust the bank for the title your in real trouble.
It's nothing but a thing .....
Good luck.
2) Had the new owner send the check to the bank to get his owner cert (pink slip) He was a cash buyer.
Another time:
1) Had the new owners bank cut a check to the previous bank for the cert.
2) Had the new owners bank cut me a check for the balance. Done Deal.
It's not the previous owner that you need to trust when buying or selling a car. It's the bank. If you can't trust the bank for the title your in real trouble.
It's nothing but a thing .....
Good luck.
Thread
Thread Starter
Forum
Replies
Last Post
SpartanZ32
Zs & Gs For Sale
4
10-22-2015 09:36 AM
NOLAGG
Misc.
6
09-28-2015 04:14 PM
slimjim888
Mid-Atlantic Marketplace
2
09-09-2015 06:07 AM