how to sell my car with the bank having the title?
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Joined: Apr 2006
Posts: 27
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From: ca
how to sell my car with the bank having the title?
I'm trying to sell my truck so I can get the IS....
Hopefully someone can help me out....
I am selling my truck for 19000 and owe 20300 on it. It is a private sell so what are the specific steps to complete the transacation since the title is being held by chrysler financial???
Basically he won't give me a check unless I give him the truck, but I don't want to do that when the title is still in my name, so how do we solve this....how does the dealer usually do it when you trade it in?
I am so confused...any help would be very much appriciated, I just want to make sure I am protected in the transaction.
Hopefully someone can help me out....
I am selling my truck for 19000 and owe 20300 on it. It is a private sell so what are the specific steps to complete the transacation since the title is being held by chrysler financial???
Basically he won't give me a check unless I give him the truck, but I don't want to do that when the title is still in my name, so how do we solve this....how does the dealer usually do it when you trade it in?
I am so confused...any help would be very much appriciated, I just want to make sure I am protected in the transaction.
Pole Position
Joined: Feb 2006
Posts: 214
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From: PA
Originally Posted by GreyDemon
I did they don't have a clue....
Thread Starter
Registered User
Joined: Apr 2006
Posts: 27
Likes: 0
From: ca
So I do these steps:
1.Write him a check for the differance 20300-1900=1300
2.He writes a check made out to my bank for 20300.
3.We go together to mailt he check to the bank.
4.Complete a bill of sale form
5.I complete a Notice of Release of Liability
6.He takes the truck
Who will get mailed the title? Will he get it or will I, I am sure he will want assurance that he will get it since he did pay for the vehicle?
1.Write him a check for the differance 20300-1900=1300
2.He writes a check made out to my bank for 20300.
3.We go together to mailt he check to the bank.
4.Complete a bill of sale form
5.I complete a Notice of Release of Liability
6.He takes the truck
Who will get mailed the title? Will he get it or will I, I am sure he will want assurance that he will get it since he did pay for the vehicle?
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Lexus Test Driver
Joined: Jul 2005
Posts: 1,362
Likes: 2
From: CA
Originally Posted by GreyDemon
So I do these steps:
1.Write him a check for the differance 20300-1900=1300
2.He writes a check made out to my bank for 20300.
3.We go together to mailt he check to the bank.
4.Complete a bill of sale form
5.I complete a Notice of Release of Liability
6.He takes the truck
Who will get mailed the title? Will he get it or will I, I am sure he will want assurance that he will get it since he did pay for the vehicle?
1.Write him a check for the differance 20300-1900=1300
2.He writes a check made out to my bank for 20300.
3.We go together to mailt he check to the bank.
4.Complete a bill of sale form
5.I complete a Notice of Release of Liability
6.He takes the truck
Who will get mailed the title? Will he get it or will I, I am sure he will want assurance that he will get it since he did pay for the vehicle?
-he can write the check or you can doesnt matter. I believe the bank will still send the title to you since you are the person of record.
-some lenders will have an expedited fee where you can get it turned around in 5 business days.
-so you get a cashier check, send the money fedex to the lender with any associated rush fee involved.
-meanwhile you sign over a your title to him releasing yourself of liability of that vehicle...even though the bank technically owns the car. This is in the event that he wrecks the car while it's title is being transferred. This also is his assurance because you signed over the release to him. Now if you're a shaddy ****, you'd take off with the money and he's screwed.
-You get the title back; sign it over to the chap and he can then register it under his name. done. -Oh dont forget to do a bill of sale indicating ALL transactions.
Good luck
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Thread Starter
Registered User
Joined: Apr 2006
Posts: 27
Likes: 0
From: ca
Originally Posted by foofighter
you're in cali so here's how you do.
-he can write the check or you can doesnt matter. I believe the bank will still send the title to you since you are the person of record.
-some lenders will have an expedited fee where you can get it turned around in 5 business days.
-so you get a cashier check, send the money fedex to the lender with any associated rush fee involved.
-meanwhile you sign over a your title to him releasing yourself of liability of that vehicle...even though the bank technically owns the car. This is in the event that he wrecks the car while it's title is being transferred. This also is his assurance because you signed over the release to him. Now if you're a shaddy ****, you'd take off with the money and he's screwed.
-You get the title back; sign it over to the chap and he can then register it under his name. done. -Oh dont forget to do a bill of sale indicating ALL transactions.
Good luck
-he can write the check or you can doesnt matter. I believe the bank will still send the title to you since you are the person of record.
-some lenders will have an expedited fee where you can get it turned around in 5 business days.
-so you get a cashier check, send the money fedex to the lender with any associated rush fee involved.
-meanwhile you sign over a your title to him releasing yourself of liability of that vehicle...even though the bank technically owns the car. This is in the event that he wrecks the car while it's title is being transferred. This also is his assurance because you signed over the release to him. Now if you're a shaddy ****, you'd take off with the money and he's screwed.
-You get the title back; sign it over to the chap and he can then register it under his name. done. -Oh dont forget to do a bill of sale indicating ALL transactions.
Good luck
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