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How to transfer the title or lien holder?

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Old 01-25-2006, 02:31 AM   #1
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Default How to transfer the title or lien holder?

I'm wanting to sell me car but I'm not sure exactly how.

Here is the deal. My car: 2000 Camaro Z28, M6, 55k miles. I have the car financed through an "online" bank. I live in Georgia but the actual title is held somewhere in Irvine, CA. I want to sell the car for the loan payoff amount of $11k.

How do I sell the car?

If I'm the person buying the car then I would not want to pay $11k for a car and not get the title right then. Like when I bought the car I signed a document which placed my name on the title along with the lien holder.

I guess I'm just confused. I've previously found an out of state buyer who was going to fly in and cut me a check for the car and drive it home. I had to refuse to sell the car to him because I had no idea how long it would be before I would actually get the title and when I did I would have to have it transfered into his name.

Can someone help me out here?

Thanks!
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Old 01-25-2006, 07:47 AM   #2
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I just did the same thing. I bought a car out of state and had to wait about 2 weeks for the title. I had the car and a bill of sale which is proof of purchase in my state. But, if the guy would not have payed off his loan I guess I would be in a lawsuit. If the person buying your car has to finance it like most people, the financial institution will handle all of this for both of you. If your not comfortable with this, you can find a way to pay off the loan before you sell it. You might want to be just as uncomfortable with someone's out of state check as he would be buying a car without a title. Good luck with the sale!
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Old 01-25-2006, 08:18 AM   #3
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u would need to get a lien release from the lien holder before u can register it. U get that the title, bill of sale and ur good to go. Of course u will have to wait about a month to get the actual title in ur name. But the car will still be reigstered to u.
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Old 01-25-2006, 12:24 PM   #4
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I called my bank and told them to send my title to a branch in advance and made an appointment with the buyer.

Peace,
Josh
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Old 01-25-2006, 02:17 PM   #5
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Thanks for the help guys but I still can't see the "process."

The person who wanted to buy my car was financing it through Ebay. I suppose they were going to give him a personal line of credit for the vehicle purchase. So, he was going to fly in and give me a check for the purchase amount.

Well, if he were to meet me at the bank and the check cleared I would be okay with him leaving with the car; however, my bank said when I pay the car off the title would come to me and be in my name. Then I would need to sign the title I suppose and send it to the buyer.

I'm not sure an out of state or any buyer would be comfortable with this process. I know I wouldn't...

As for transfering the title to a local branch. I wish I could do this but they don't have local branches. It's an online company.

Thanks!
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