Overhaulin'

can i sell my car even if it has a lien on it and an i get cash for it?

Public Comments

1. The lien has to be paid with any cash you get.
2. You will have to pay-off the loan first. what is left after that you get to keep.
3. No, a lien means that another party has a vested interst in the vehicle and hold ownership rights. If you try to sell it without the lienholder's consent you are essentially committing fraud and can be charged with a criminal act, punishable by fines and/or jail time.
4. No. that would be like buying a car and financing it through the bank then selling it. It's called fraud if you sell something that doesn't belong to you, and as long as the lien is on your title, you don't.
5. Sure you can.....You can sell your car, sign the title, sign a buyer's agreement, just about all of it, until the new owner goes to the DMV.....At which point, proof (from the loan company) is required that the loan (or lien) has been satisfied before the title and registration process would begin. If you really need to get out of the vehicle, than see if the lender will either lower your monthly payments or allow you to sell the vehicle and then payoff the remaining balance through a personal loan.
6. in most states, the typical process is to clear the lien prior to be able to sell But in CA, you can trasfer ownership (there is a certain DMV form to use) and pay the lender a certain fee to transfer the loan the other option is to have the buyer payoff the loan the way a car dealer would if you trade it in good luck, bein there and done that
7. You cannot transfer the title until the lein has been released. To do this you have to pay it off, and get a letter of release from the lien holder, then include it with the title after a sale.
8. Yes and no... You can sell it. You can accept cash from a private party purchasing it. If you do that and fail to pay off the lien... its fraud. Rather than just getting a bad credit rating for nonpayment, you can go to prison.
9. Yes, all you have to do is pay off what you owe, after that the rest of the money, if any, is yours.
10. Yes but to get the title you'll have to satisfy the lien or make a deal with the lienholder and pay them back some other way. Since Many will hold the title until you pay them back in full.
11. once you pay off the loan, you are allowed to sell the car. what will happen is someone will agree to buy your car for a set amount, and will pay you that amount. then you pay off your loan. when the loan is paid off, the bank will send you your title, to which you can sign over to the new owner. the problem with this is that it takes weeks for all this to take place. you have to find a buyer who is aware of the fact it may be a while till they get the title.
12. As long as the buyer is aware, you can both go to the bank, he can pay off the loan for you, and you can pocket the rest. He can then file for a clear title in his name. Otherwise you have to pay it off yourself first.
13. A lien must be satisfied in order to transfer the title out of your name. If it is not transfered then you can be held liable for ANY act in which the vehicle is a part of, ( fatal accident, commision of a crime, ect.) even without your knowledge! Also you could be charged with disposing of mortgaged property! (also a felony) Not a smart move. Contact the lein holder and try to reach a settlement. If there is a problem with the vehicle you may get out of the lein cheaper than you think.
14. you could sell the car but the lien has to be paid first. technically the lienholder has an "interest" in the property. they in essence are a part owner of the property.
15. Only if you get enough to pay the lien, and release the title to the buyer.