Overhaulin'

Can you help me sell my truck that has a lien on it?

I have a Black 2000 Ford F-150 XLT 4x4 package, and I love it but I need to sell it and buy a small car or motorcycle. I commute to the city and work long hours so I need something with better gas mileage. The only problem is, it still has a lien from the bank and I'm not sure how to go about selling it. If anyone has some good advice for me, it would be greatly appreciated. I live in Long Island, NY.

Public Comments

1. Contact the bank. They can tell you the steps necessary to sell it.
2. Call the bank for pay off amount and when you find someone interested they need to go to the bank with you to pay it off and get the title in thier name. Your banking rep. will let you know.
3. I'll assume you are still making payments on the Ford..... Heres what you do. You list it for sale and find a buyer. The buyer will have to be a little patient. He pays you and you immediatly pay the bank. The bank will issue you a lien release form. Then you give that form and the title to the buyer. That way he can go to the DMV and register the truck.... The DMV will not allow the new buyer to register the Ford unless he/she has that lien release form.. The clerk will note on the title Lein Recorded or something like that...... Of course you let the buyer hold the truck and the title while you wait for the lein release from the lending instituition.... YOU MUST BE DILLIGENT in getting the release form or the buyer could get impatient and demand his money back which he has every right to do...... Hope this Helps!!