Selling a car with a lean
#1
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Selling a car with a lean
So my GF wants to sell her car privately, but still owes money on it. Its registered in MD. Whats the process of getting her loan payed off and he title transferred. How longdoes this usually take? Thanks
Brad
Brad
#3
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All I remember is that it takes slightly more paperwork.
Essentially the seller pays you, you pay the bank, you get the lein released, then the title can be transferred to the new owner.
Essentially the seller pays you, you pay the bank, you get the lein released, then the title can be transferred to the new owner.
#4
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Originally Posted by PopTarts,May 29 2007, 04:44 AM
Essentially the seller pays you, you pay the bank, you get the lein released, then the title can be transferred to the new owner.
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depending on the bank they usually get the title out to you very quickly once the lien has been paid in full. so you can just go from there with getting the title to the new owner.
#7
Originally Posted by 00StonedS,May 29 2007, 02:49 AM
So my GF wants to sell her car privately, but still owes money on it. Its registered in MD. Whats the process of getting her loan payed off and he title transferred. How longdoes this usually take? Thanks
Brad
Brad
Or you could pay the title off (if you have the $) and get it mailed to you, knowing your car should sell within a short period of time and you will get your $ back.
I personally don't trust the system to pay someone's title off and leave with only a "bill of sale". I am sure most people are trustworthy but with $20k I don't take any chances.