paulk68
11-24-2009, 06:54 AM
Hey Guys i was just wondering if anyone has sold or bought a car that has a loan still on it and what the process is? thank you
camcojb
11-24-2009, 07:47 AM
done it many times, no big deal really. In most cases if I'm the seller the buyer has just given me the money, I give them a bill of sale and the car, I pay off the car, then sign over and mail the title when it arrives. I always offer for the buyer to pay the leinholder directly too, makes some less nervous. Then they know the title is clear, they have a record of it being paid off, and they pay the remainder to me. If the leinholder and the buyer are local you can simply meet at the bank and do the whole thing there.
Jody