How do I sell my vehicle privately with a lien still pending? (Florida)?

Question

Obviously I don't want to come up with the $15K and no one is going to purchase the vehidcle without a title. Is there a temporary title exchange/transfer? Is there a process?
(I want to pay off the lien)

Answer 1

Put it up for sale, and any respondents will need to find their own financing through a bank.

When they obtain it, they will need to give you a CASHIER'S CHECK from their bank. If your car is not paid off, the cashier's check MUST be made out in the name of your Lien Holder.

At this point, the lien holder will turn over the title to HIS lien holder and the deal is finished. You turn over the car, both sets of keys, and he's off into the wild blue yonder with your ex-vehicle.

Now.. you're free to roam for another car.

.

Answer 2

There is no such thing as a temporary title exchange. If you have a loan for the car/truck, then you would have to make arrangements to either pay down/off the loan, or see if you qualify for the bank to give you the money unsecured.

Chances are, that if they required the vehicle as security previously, they would not want to now have the loan unsecured, so you would probably have to pay down the loan.

But you won't know for sure unless you do into your bank and talk to the person that did your loan. I have done many a change to existing loans to accomodate members, but it's always up to whoever approved the loan in the first place.

Answer 3

You can get a commitment from the buyer to take over payments on the car. However, you may have to pay the interest accrued. See what the buyer says.

Answer 4

You take your buyer down to the bank, or finance company,,,and let him watch as you pay it off with the cash he gives you.

There is no other way,,,there are no temporary titles,,,you owe money on this car and thats that!!!

Answer 5

You can't unless the other person is willing to satisfy the lien