I bought a used car 2 weeks ago and am looking to sell it (long story). The title is in the original owners name as I haven't had time to title it myself yet. Can I sell this car to a private buyer or do I need to title it in my own name first? I do own the car outright and there are no liens on it. The title is clear, it's just not in my name.
2007-08-17 16:27:59 · 8 answers · asked by sneakytrickster 3 in Cars & Transportation ➔ Buying & Selling
You need to title it in your name, unless you are a licensed dealer!
2007-08-17 16:34:37 · answer #1 · answered by fire4511 7 · 1⤊ 0⤋
You are holding up the process. Start getting the paper work going. If not, then you won't be selling anything. It'll take a couple of weeks for you to get the title back from DMV. You might be able to go to the DMV and do a double transfer. Call them and see if it is possible. That way the car is put in your name, and then it is immediately put into the new buyers name. Get it started though. good luck.
2007-08-17 16:39:38 · answer #2 · answered by Fordman 7 · 2⤊ 0⤋
In Canada, you own the title to the vehicle no matter what you owe. If you sell the car, you still have to pay for the loan on it. But it looks like you can't do that. I suggest getting another personal loan (not backed by the Jeep) to pay off the Jeep loan. Your credit must have improved if you're making regular payments on time. You may even get the interest payments reduced. I'm having trouble with your payments because 400 something (max 500) x 12 months is 6,000 you can't pay off a $6,000 loan in less than a year even with $500 a month.
2016-04-02 03:02:24 · answer #3 · answered by Anonymous · 0⤊ 0⤋
It has to be in some ones name. Who ever it is find out if they have a lien on it. If they do it will have to be paid off to that person before he can transfer the title to you. And if any taxes are due they will have to be paid off also.
Sincerely yours,
Fred M. Hunter
2007-08-17 16:36:33 · answer #4 · answered by Anonymous · 0⤊ 2⤋
it is illegal to sell a vehicle that is not in your name, some junk yards will take a vehicle that is going to be scrapped right away but for the most part you will have to get the tittle in your name
2007-08-17 16:32:37 · answer #5 · answered by Anonymous · 2⤊ 0⤋
Well you can do what you want,but what your trying to do is a felony, its reefed to as jumping tittle. chances are the person you sell it to may not care, but if something was to go wrong, you can get in allot of trouble.
2007-08-17 16:34:07 · answer #6 · answered by long beard 2 · 3⤊ 0⤋
legally you would have to put in your name first or get the owner to sign off on to the next victim
2007-08-17 17:15:11 · answer #7 · answered by mlgarl 2 · 0⤊ 2⤋
If you do not possess the title, you do not own the vehicle.
QED
2007-08-17 16:39:27 · answer #8 · answered by d_cider1 6 · 1⤊ 2⤋