I am hoping to sell my 12 passenger chevy express van. I'm still paying off the loan for it. I understand that the lein has to be paid off to transfer the title. What is the best way to do this? Do I need a middle man, or do I just transfer it when I sell it? I'm assuming I won't be able to get the pay-off value and may have to pay the balance of the loan myself.
thanks!
In PA, there are notaries that can do that for you instantly, online. Is there someone like that near you? They should be able to answer all questions...then the title will be mailed to the new owner, I believe...
Call the company/bank who has your title. Ask them what the best way to handle it is. Ultimately it's them you have to "make good with", so start there. You can confirm how much you owe, and what their process and timeline is for you to get the title. You then may have to call the DMV to find out about transferring the title to the next owner - I think it's as simple as signing the back of it.
I don't think you need a middle man, they'll just charge you more money.
Also, only take cash or a cashier's check at the time of the sale of your vehicle. Some people try to pay with regular checks, but they may bounce. So cover yourself.
Best wishes
I sold a car a couple years ago that I still owed on. I called the company I had the loan with & found out the exact payoff amount. Once I got the money from the buyer, I sent in the full amount to the loan company. Once they received & processed the payoff, they mailed me the title, which was in my name. Then I met with the buyers & signed the title over to them (on the back of the title). That was it!
The buyers had to have the title within 30 days in order to get a license tag for the car. Of course it took the loan company 1 day short of 30 days for it to get to me in the mail... haha So once you get the car sold, send the payoff in ASAP so that you can get the title for the buyer!
