i have a friend who is interested in buying my truck. but i am still paying my truck off, how can i sell this? the truck is under my name, and i have 15k left to pay off. my friend knows im still making payments, but hes still interested, if anyone can give me advice or anything of the like please do.
Thanks, Ray.
(2002 dodge dakota,4x4, automatic, v6 magnum, SXT package, towing package, extended cab, blue in color, 61,000 miles)
You can sell the car with a lein on it.
But your friend is dumb for buying it with it on there.
Happens every day. Friend gets a loan for the truck (or has cash $$$), he pays your bank directly for at least the full loan amount (can pay everything, the difference will just be refunded to you) and you get a lien release. Then you can sign the title, bring the lien release to the DMV and he can register it.
If you owe more than what he will pay you, get a personal loan (maybe secure it with other collateral like a CD or something) so you can pay off the difference.
Yep, it’s not uncommon.
He can’t title/register the vehicle in his name without a lein release statement from the financial institution, so as long as the buyer is willing you can take his payment and use it to pay off the lein and get him the lein release ASAP.
I bought a truck with a lein on it once. The lein was through HSBC so I met the seller at the bank, he paid off the loan with my payment and I left with the lein release.
[quote=“BikerFry,post:5,topic:35853"”]
Yep, it’s not uncommon.
He can’t title/register the vehicle in his name without a lein release statement from the financial institution, so as long as the buyer is willing you can take his payment and use it to pay off the lein and get him the lein release ASAP.
I bought a truck with a lein on it once. The lein was through HSBC so I met the seller at the bank, he paid off the loan with my payment and I left with the lein release.
[/quote]
Not true.
My case in point.
I bought a saturn ion from a guy who owed GMAC a few grand on it. He paid off the loan up front with his own money, and GMAC was being a pain in the ass to get the lein release. They faxed him a copy of the lein release, and the dmv would not honor that. I registered the car with his lein on it, and he mailed me the lein release.
My title has two leins on it which are both now paid off, one gmac, one for my credit union that i borrowed money on.
you CAN sell a vehicle with a lien on it.
ugh, search.
http://www.nyspeed.com/forums/showthread.php?p=391739&highlight=lien#post391739
http://www.nyspeed.com/forums/showpost.php?p=391788&postcount=38
http://www.nyspeed.com/forums/showpost.php?p=391888&postcount=39
Just pay off the lien with the money he pays you…And give him the title/lien release form that same day, all in one sitting, at the bank. Whats difficult there?
–mark
Hm. Sho Nuff.
Can I transfer a title certificate that has a lien listed?
You can transfer the title certificate and give the new owner the original proof that any lien listed on the title certificate was satisfied. Keep a copy of the proof for your records. When the new owner applies for a registration and title certificate, DMV receives the title certificate and the proof that the lien is satisfied. When the DMV processes the title certificate of the new owner, the lien is removed. If the new owner does not provide the original proof that the lien is satisfied, the lienholder is listed on the title certificate of the new owner.
But here’s why you shouldn’t title a vehicle with an old lien on it:
Before you accept the title certificate from the seller, check the front of the title for the names and addresses of lien holders. A lien indicates the current owner owes money on a loan for the vehicle. If a lien is listed on the title, ask the seller to give you the proof the lien has been paid - in most cases, it will be an official lien release from the lender. If proof is not provided, the lien holder could repossess the vehicle from you.
i registered a car with a lien on it…its just a stamp on the title
cool thx
[quote=“4x4jimmy”"]
i have a friend who is interested in buying my truck. but i am still paying my truck off, how can i sell this? the truck is under my name, and i have 15k left to pay off. my friend knows im still making payments, but hes still interested, if anyone can give me advice or anything of the like please do.
Thanks, Ray.
(2002 dodge dakota,4x4, automatic, v6 magnum, SXT package, towing package, extended cab, blue in color, 61,000 miles)
[/quote]
Lmao correction your dads paying for it because you cant afford it and your best bet is to sell the truck for what you owe but anyone would be stupid to buy a vehicle from you if they knew how you drive them you break more vehicles than anyone else i know so glws your gona need it
[quote=“layton108,post:14,topic:35853"”]
Lmao correction your dads paying for it because you cant afford it and your best bet is to sell the truck for what you owe but anyone would be stupid to buy a vehicle from you if they knew how you drive them you break more vehicles than anyone else i know so glws your gona need it
[/quote]
says the kid that has got more girls pregnant than a sperm bank… and buys a kit car thinking its a good idea/easy to finish and sells it for a loss. if you cant even figure out what to do with a knocking/ticking motor, how the fuck did you plan on finishing a kit car? you really have no room to talk here bud. go play a game or read Everybody Poops, adults are talking here.
lmao yea ok 1st off sold the kit car for 5k picked up the porsche for 2k and havent really messed with it since i got it and as for the whole pregnant thing never got rays sister preg even tho he likes to think so but whatever like i said glws on that truck thats been in how many accidents since ray owned it?? hes prolly trying to sell it cuz his parents are sick of paying for it cuz they got more important things to pay for I feel bad for the next owner hope they know what there about to get themselves into
who said aything about rays sisteR? and ray hasnt had any accident in the dakota, it was broken into and driven quite aggressively…and for what he owes and for its condition its a fair price.
well according to ray i suposedly got his sister pregnant which never happend however last time i talked to her which was while ago she said he hit something with it when he was driving drunk and that it was in the shop getting fixed she had to drive his ass to work when he was working because he wouldn’t pay to get it fixed and i remember that cuz i drove with her a couple times to pick him up however your right about the price it is a fair but if anyone knows ray and how he treats his vehicles id hope they’d look for something alil less beat
[quote=“4x4jimmy,post:19,topic:35853"”]
ryan,
you know nothing about modding cars. you will never know anything about modding cars.
=D
[/quote]
wow, VB really quoted that weird … thats odd
GLWS