Car Sale ?

[Silver350]

So I am looking to buy my friends truck and then sell my car. I currently still have a lien on my title.

Can I sell my car with the lien on it and just pay back the financial instute and then get the lein released?

I did it with my motorcycle but it was convienent cause the finance place was landmark credit union, and the buyer and I went to landmark paid off the balance and he got the lien release. How ever this place I have now is located in Illinois.

Is there any other type of payment I can accept besides cash?

anyone have any opinions or advise for me before I get too involved in this?

[SSDude]

Call the bank and see if they have anyone local that can clear the lien for you otherwise the fastest way will be to take a ride to Ill.

[Yeehaw]

you can but the title can not be retitled til it is cleared so whoever you are selling it to better be really trustworthy, when you pay it off bank will give you a sheet of paper saying its paid just gotta give that to new owner so they can take that and title to the DMV

[70 cutlass 442]

well, you will be lucky to find someone thats willing to buy it with a non clear title... what I would do if i were you is let the buyer know exactly whats going on, take the money from them, then drive to the bank with the new owner and get the lein release.... if not then it will be hell for the new owner to get the lein release and title it.

[GHOSST]

I did it with my motorcycle but it was convienent cause the finance place was landmark credit union,

Landmark FTL! Man they suck.

Anyway. If the title is in your posession, you can to what you want as far as selling it. Just make sure you have your cards on place before hand, because the next owner cannont register the vehicle if there is still a lien on it from you, which will raise all kinds of red flags. But if you have all your cards in place from the get go, once you sell it immediately go pay off the lien, and to be safe, set up a time were the buyer can purchase the vehicle and you can go to the bank in the same day, preferably the same hour! Now, either you can just get the title stamped then and there, and then hand it over. Or the buyer can get the title stamped anytime as long as the lien is paid off completely (this can be a trust issue). Now if your bank is a title holding bank, that sucks! Makes everything more difficult for the buyer, but not impossible at all. Just hope the buyer is patient. And if thier taking out a lien too.... oh geez prepare to standby. Just more lengthy, but possible! And if boths banks are good, might only be 3 days tops. GOOD LUCK:headbang

[Silver350]

Thanks for the info. I been thinking about this all day and I think I found a solution to getting the lien release from the title.

[SSDude]

Is it a bank or a loan company?