2007-08-09 09:57:44 · 8 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
Yes, but in order to officially sell it you would first need to get the buyer to pay you (and you both sign a bill of sale stating the terms of the sale), use that money to pay off the remainder of your loan (at which point the car title is released to you), and then transfer the title into the buyer's name.
However, some buyers may not be comfortable with the "limbo" period when they've paid you and still have to wait for you to get the title and then transfer it to them. You could give them the keys as soon they pay you, but then there's risk on your side, since they'd be driving around a car that is still in your name and that you're legally responsible for. But as long as you both trust each other, it's not a big deal.
2007-08-09 10:11:29 · answer #1 · answered by nevergonnaletyoudown 4 · 0⤊ 0⤋
OK first off you can sell your car but like some said i would go can a contract such as a bill of contract and you can find the form all over the internet and i would make a deal with them that they do not get the car in tell you receive the title and it is signed over to them. In less your state allows you to insure a car that does not have your name on the title but in Florida that is against the law. But now if you know the person your selling it to and you think you can trust them then you can take the risk of them driving it before the title is signed over to them.
2007-08-12 05:14:56 · answer #2 · answered by linuxwiz83 1 · 0⤊ 0⤋
I don't think so, because you still owe money, and you won't get the title of the car until you pay it off. No title, no sell!
Maybe if you contact the bank, they can make arrangements for you, but I had to pay mine off immediately- which was okay, since my car was bought for more than what the loan had left on it.
2007-08-09 17:05:58 · answer #3 · answered by Kirby 6 · 0⤊ 1⤋
Yes, as long as you get (or have) enough to pay it off. You give the buyer (a) the car & (b) a bill of sale. They give you the money. You pay off the loan, get the title & send it to the buyer. This usually takes a couple of weeks. My sister did this with her previous car.
2007-08-09 17:07:21 · answer #4 · answered by Tom's Mom 4 · 0⤊ 0⤋
Yes. But who ever has the lien on the title must release the lien before you can give the buyer the title. If you owe less than what you are selling it for, you pocket the extra money. If you owe more, you must come up with the difference.
2007-08-09 17:47:14 · answer #5 · answered by Brad M 5 · 0⤊ 0⤋
Yes, but the new owner can not transfer the title into their name until the lien has has been satisfied.
Check with your lender.
2007-08-09 17:33:10 · answer #6 · answered by Ford Sales Guy 3 · 0⤊ 0⤋
no.you need a clean title for a legal sale,you could find yourself in big time problems if you did
2007-08-09 17:32:43 · answer #7 · answered by MrZip 5 · 0⤊ 0⤋
Not if the bank still owns it...
2007-08-09 17:06:02 · answer #8 · answered by John J 3 · 0⤊ 1⤋