Overhaulin'

If there is a lien on a car and the company refuses to take the car back can I sell or junk it?

Public Comments

1. You can't sell the car if you don't have the title in your hands in your name. If you junk it that does not remove the lien. All that means is you still owe money on something you no longer have in your possession.
2. If there's a lien on the car, then you still owe money. You can sell it and use the money to repay the loan. You can junk it ... but you still owe the bank the balance of the loan.
3. Cant legally sell it. You can junk it. However you still have to pay for it if the lein is financed to you.
4. If the car was bought using financial options, unpaid means that you do not own it, the provider actually owns it and only they can sell it. By doing this, you are expecting trouble.
5. A lien freezes that asset. You can't do anything with it because it ain't yours at the moment. You cannot sell it. You cannot junk it. You cannot use it for business. It is complex. Pay for it to get the lien removed so it is your free and clear of all liabilities, and THEN you can junk it(or sell it). Right now, you are stuck with it.
6. You cannot junk it since this action requires a title, which you do not have. Only way to sell it is to go to the lienholder (bank, credit union etc) and get the loan changed over to the buyer. If you do nothing, they will eventually repo it and sell it. They will not try to get the best price and you will still owe any outstanding amount.