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I agree. I've purchased many used vehicles and if the seller doesn't have the title i don't even consider it. There are too many scammers out there these days to take a risk. The only way i would consider such a transaction is if i could personally go to the bank with the seller to pay off the loan and get them to send ME the title.
Done it a few time thats way , and thats the only way i will buy or sell a vehicle with a lien.
Have the buyer provide a cashiers check to the bank with your instructions to release the lien free title to him (they sign off on the lien). It fairly common protocol and done all the time. Do not use any 401-K money.