Overhaulin'

i am wanting to sell my car the person does not have all the money how do i put a lien on the title?

Public Comments

1. I'm not 100% certain of how that would be, or could be done, but I CAN tell you what I did when I sold my last car. My buyer (like yours) didn't have all of the money I wanted for the sale of the car at the time. I had him pay me a little bit each week after he got payed..and held onto both the title of the car, and the car itself until he was paid in full. I gave him receipts for every cent he gave me, and when he gave in the last payment..I handed him the title (signed over by me), and the keys to the car. This is the only way I know of doing this without making it too complicated. If you give him the car before its paid..and you still own it, he can't get insurance on it (he'd essentially, be driving on yours..and you'd be responsible for any accidents he may have)..and if you sign over the title before he's paid up...he could drive aay with your car, and you'd never see him again. (of course..you COULD report it as stolen, then). Eh..its complicated. Your best bet would be to contact your local DMV and your car insurance company. See what they say. I could be right...I could be wrong. Who knows *shrugs*
2. CONTACT YOUR LOCAL (DMV) DEPARTMENT OF MOTOR VEHICLES OFFICE, THEY WILL BE ABLE TO ANSWER ANY AND ALL OF YOUR QUESTIONS AND AT THE SAME TIME YOU WILL BE GETTING THE CORRECT ANSWER TO YOUR QUESTION.
3. You fill in the title with your name and address as the 'new lienholder or legal owner' and the buyer as the new registered owner. The new title will be mailed to you and you can then sign off the lien when the buyer has paid the balance before giving it to the buyer to take it to dmv to remove your name. You may want to handle the transfer yourself, or accompany the buyer, to make sure it stays on there. You could use a registration service rather than wait in line at the dmv, but it will cost you about $50.