Alright so I’m a little stuck on what paper work/documents I’m going to need in order to properly complete the sale of my car. I owe a few g’s on my loan and I have a buyer with an offer that will more than satisfy my loan. Can anyone offer some insight on what I’m going to need? I’ve never owed money on any car I’ve sold and I paid cash for my previous car. The DMV website wasn’t all too helpful.
Once it’s paid off, the bank will instantly issue a Lein release. All you need to do is give the Lein release to the new owner with the title
Have the buyer go with you to the bank. Payoff loan and give lien release and title to new owner.
So all I need to show up with is a bill of sale then? The bank I financed with doesn’t have a local branch. Would the kid be able to register and insure the car tomorrow right away and drive it?
A bill of sale is also needed, but you still need a lien release from the bank or no he will not be able to reg the car. Simple as that, pay off the loan and get the lien release.
If the bank isn’t local then you will have to wait until its mailed to you.
Alright thanks guys. I think the nearest branch is over an hour away so I’m gonna see if I can wire the money quicker through my bank or I might just take the drive out so the kid can enjoy the car before he leaves for basic. Thanks for the help
If you don’t have the lien release the kid can still register it however the lien will end up on his title until he goes back to the DMV with the lien release.
exactly.
Thanks again for the help guys. Just dropped the car off at the kid’s house