I still owe money on my s2000 - what do I need to do to release the lien.
I mean I guess I can pay it off in cash, but i’d rather have the seller pay it off.
How does that work?
2 ways.
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Seller pays full price to lienholder, lienholder refunds additional $$ to you
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Seller pays exact payoff amount to lienholder, pays additional to you
Either way, once the lien is satisfied, you’ll get a lien release and can sign the title, give him the release and the car and be happy.
YOU CAN TRANSFER A TITLE WHILE THE LIEN IS STILL ON IT.
If I were the buyer, I wouldn’t buy the car w/out a free & clear title. Then again, people do stupid stuff all the time.
It will be easiest to pay it off, get title and sell.
You would be a fucking moron to buy a car like that.
lol, yeah.
so is this like a “We have a search” type topic?
yea you can sell it but would someone buy it. I think walter’s answer works
Thank you captain obvious.
Point still stands that the OP will be responsible for the LOAN.
So, I don’t need a lien free title, I just need my current title with a lein release?
yep
Yes, unless your buyer wants to wait a few weeks for a clean title to show up from the DMV.
x3, just go to the bank together, it’s the easiest way and they will print a lein release right then and there and you will be off on your merry way
Anybody want to buy my loan… ahem, I mean car, for $1?
Sure you can sell the car if it still has a lien, but the new buyer CAN’T register the car without a letter from the lien holder saying its OK, which they won’t give him unless they get all their $. Plain and simple.
Yes, but you can go to the bank and transfer the lien.
but I don’t assume a buyer would want to apply for a loan they just paid off to the seller lol
The loan wouldn’t be paid off. The point is that the lien still exists because the loan wasnt satisfied. The two party’s would go to the bank transfer the lien and then the buyer would have to satisfy the rest of the loan according to the terms.