I will be selling my car when it comes back from the shop next week. I still owe $2200 and I am trying to decide if I should pay it off now to get the clear title or should I just wait until the car sells. I plan on selling it myself at a discounted rate, so hopefully it will sell quickly. My finance company said that it will take 10 days to get the clear title sent to me or the new buyer. Any opinions or does it even matter?
2007-04-10 03:21:36 · 8 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
pay it off now so you can get the lien release from the lender - the new owner can not register it without the title and the lien release - so many people may not want to buy it from you - easier sale with the correct paperwork
2007-04-10 03:24:20 · answer #1 · answered by T F 4 · 1⤊ 0⤋
It would be better to pay it off now so that you can have the title in hand. A car that price range people don't want to wait around for 2 weeks to wait for the title. I have sold cars both ways and paying it off first is a much better way to go.
2007-04-10 10:25:20 · answer #2 · answered by Anonymous · 1⤊ 0⤋
if you buy a car from someone as a private party sale, I would think that getting the title then and there is preferable to a verbal promise that the title will get sent when the bank gets their $$.
If you can swing it without discomfort, pay the car off then sell it to someone who can immediately put it in their name.
2007-04-10 10:25:24 · answer #3 · answered by Shredded Cottage Cheese 6 · 2⤊ 0⤋
I'd pay it off now to save on the hassle factor for the buyer. It's so much easier when they can just hand you the payment and you can just sign and give them the clear title.
2007-04-10 11:03:52 · answer #4 · answered by Uncle Pennybags 7 · 0⤊ 0⤋
We have had good success selling our cars to Car Max - they give mid Blue Book prices and treat you like a human with a brain, unlike some other used car dealers.
2007-04-10 10:25:59 · answer #5 · answered by pengi55 1 · 0⤊ 0⤋
I never buy a car unless the seller has the title already in hand. And I'm sure others feel the same way.
2007-04-10 10:54:20 · answer #6 · answered by Anonymous · 0⤊ 0⤋
If you are planning to sell the vehicle yourself then you would be better off having the title on hand when you sell it.
2007-04-10 10:55:39 · answer #7 · answered by kerfitz 6 · 0⤊ 0⤋
when selling an upside down car, you may want to pay it off first, cuz you probably wont get what is owed on the car anyways. hope this helps.
2007-04-10 10:24:24 · answer #8 · answered by LoverOfQT 5 · 0⤊ 0⤋