Overhaulin'

How do I sell a car with a lien holder through ebay?

I would like to sell my car in a national auction on ebay. My car has a lien with VW credit. What process should I follow to sell this car, get the finance company paid and transfer the title to the new owner? Since everything is done online how can confidence and trust issues or problems be avoided? Thanks,

Public Comments

1. Its going to be nearly impossible for a buyer you do not know to trust you to trust you with the money without getting the title at the time they pay you. I wouldn't even try. Sell the car to someone who knows & trusts you or to a dealer. There is a way but most individuals don't have the capacity to deal with affidavits & power of attorneys. Dealers, on the other hand do it all the time. Ask VW if they will somehow work with you. Its unlikely unless you have very, very strong credit. The other possibility, which also requires very good credit is getting a signature loan to pay the car off and then doing so at which time you would have the title in hand & be good to go. Finally, if you can get refinanced at a local lender, then you could bring the buyer to the lender and payoff the loan, get the title & sign it over to them. Now you know the downside of using an unlocal lender.
2. First u'll need to determine what VW is willing to accept on a cash payout of ur loan with them. Next u'll need to check the blue book value of ur car to insure that the cash payout is equal to or preferable lower than the value. If its higher, this is considered up sidedown in loan terms an can make selling of ur car difficult. List ur car on ebay, make the sale, pay off lien holder an request proper title to be sent to u overnight, sign title to approve sale and hand title over to new owner for proper transfer, I'm a vehicle title consultant and processor from TX that provides services nationally.