Thursday, June 2, 2011

How to sell a car without title in hand?

I purchased my car in Kansas and when you finance a car the bank keeps the title until it is paid off. This was my situation. I then moved to Minnesota where you always have possession o the title. My car is registered in Minnesota now but that does not change the title situation. I still owe on my car and want to sell it to a private party. I will NOT be trading it in. How do I approach this issue with people in a state where this probably doesn't make sense to them? I wil only ge the title once the loan is paid off so the buyer wouldn't have until about 10 days after they give me their money. Is there a legal document that could satisfy them until I give them the title? Any advise?How to sell a car without title in hand?
Vehicle ownership is transferred by title. You don't have yours, because you don't own the car yet, so you can't sell it.



If you want to sell it, pay it off, and get the clear title, and then sell it. Chances are you can borrow enough to pay it off if you tell the bank you plan to sell it and pay them back.How to sell a car without title in hand?
Its really hard to sell when there is a lien on the vehicle. You have to be straight forward with the potential buyer. All you have to say is the bank still owns the vehicle. Reason being they have the title. You can fill out a Bill of Sale for your buyer. The bill of sale you can find at your local motor vehicle. That is the legal document you need. Good Luck!How to sell a car without title in hand?
It's not a legal document per sa but the Bill Of Sale with the details clearly explained should be sufficient.



Will the selling price of the car be enough to pay off the loan in full? You can always conduct your business with the buyer at his bank with the assistance of a bank employee. That may ease any concerns they may have over the legitimacy of the transaction. The banks can talk to one another and assure the buyer that the title is on it's way.How to sell a car without title in hand?
first of all contact to a car dealer regardind to find out a buyer who is willing to pay out whole some amolnt in cash than pay of your bank dues and transfer the tittel to the owner or contact to your bank regarding your laon transfer to the buyer party directly
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