2006-07-26 13:59:27 · 6 answers · asked by WGC 1 in Business & Finance ➔ Personal Finance
You should hand over the check from the credit union to the seller of the car. Make sure that they have a free and clear title with them. I suggest going to the Notary (AAA is a good choice) and doing the exchange there so that the Notary can retitle the car for you.
2006-07-26 14:04:07 · answer #1 · answered by wizibuff 4 · 0⤊ 0⤋
The loan from any credit group will always be made out to the person getting the check, not to the person getting the loan. This is a loan on something that can be taken back should the loan be defaulted on.
2006-07-26 14:03:59 · answer #2 · answered by mom of girls 6 · 0⤊ 0⤋
I just sold a jeep wrangler. I still had a loan on the jeep. The person buying the jeep got two checks. One made to the credit union I had my loan with, in turn they got a piece of paper called a "golden rod". That had to be presented at the court house to be able to transfer the vehicle. The other check was made out to me to do what I wished with
2006-07-26 14:20:57 · answer #3 · answered by car guy 1 · 0⤊ 0⤋
The other person gets the check. If the other person has a loan on the car - then your bank will wire the owner's bank the payoff amount (or the sales amount you two agreed upon). If the other person owns the car outright, then your bank will give that person a cashiers check for the purchase amount.
2006-07-26 14:04:51 · answer #4 · answered by Christopher B 6 · 0⤊ 0⤋
The person getting the loan unless it's a car lot. Alot of times the car lot gets the check.
2006-07-26 14:04:11 · answer #5 · answered by Anonymous · 0⤊ 0⤋
If it was me I've have a certified check made out to the person you are buying the car from
2006-07-26 14:03:54 · answer #6 · answered by Granny 1 7 · 0⤊ 0⤋